The post Terrible September Ahead for Bitcoin; Traders Should Note These 5 Points Before Jumping In appeared first on Coinpedia Fintech News
Bitcoin price is squeezing hard. After remaining under narrow consolidation throughout August, it was believed that September 2023 may be diverse. Woefully, the price started the month’s trade on a bearish note, squashing the possibilities of a fresh bullish reversal. Moreover, the current trade setup indicates that the price may undergo extremely dreadful days until the end of September.
In such cases, market participants need to consider the following points before carrying out any trade,
September Tends to be negative, as the price began the month on a bearish note. Historically, the price has witnessed a single-digit drawdown in September, while only two months (2015 & 2016) saw small, single-digit gains.
Bitcoin prices retraced an average of 7% to 8% in September 2017, 2020 and 2021
In the case of a double-digit retracement, which h
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