Bitcoin: Bull Market Support Band

Market Analysis & Predictions - The analysis suggests Bitcoin typically experiences a high in August followed by a low in September, a pattern observed in 2017 and 2021 [2][3] - The report anticipates that the August high could be surpassed in October, potentially mirroring trends from 2017, 2021, or even 2020 [6] - The analysis is monitoring Bitcoin dominance, suggesting a potential rally after rate cuts in late September and into October [15] Key Technical Levels - The 50-week Simple Moving Average (SMA) is currently around 98,000 [8] - The bull market support band ranges from 109,000 to 111,000, and Bitcoin is currently holding above this level [8] - Maintaining the bull market support band is crucial for a potential Q4 rally to new highs; failure to do so could lead to a muted rally [9] Risk Assessment - Multiple weekly closes below the 50-week moving average would signal a potential end to the current cycle [12] - A breakdown in September doesn't necessarily mean the cycle is over, as the 50-week Exponential Moving Average (EMA) could provide support [11][12]