Bitcoin’s Market Structure Suggests No Bottom Before October
- Analyst TARA highlights Bitcoin’s support at a critical technical cluster, defined by a 0.618 extension and a specific 0.854 support level.
- The immediate resistance for Bitcoin is identified at $114,400, while the macro trend remains bearish with a target of $99,000.
- Dr. Cat notes the potential for a bearish TK cross formation if Bitcoin revisits the September low of $108,652 after September 28th.
Technical signals suggest that Bitcoin’s market may not find a bottom before October, with key levels indicating both short-term support and long-term bearish trends.
Despite short-term bullish signs, Bitcoin faces significant resistance and potential downside pressure if it revisits previous lows within the specified timeframe. (Source)
