Bitcoin price stayed below $26,000 into the Sep. 3 weekly close, brushing off overly bearish trader sentiment. Data from Cointelegraph Markets Pro and TradingView showed BTC price avoiding volatility over the weekend, operating in a tight $200 range. Traders weighed the impact of various potential weekly close levels, with $25,900 as the key line in the sand to reclaim this week. If the weekly close is below this level, a move lower towards $24.3K could be seen. A bearish scenario could put sub-$20,000 levels back in play, while a bullish revival involving a reclaim of $26,000 and continuation for a Q4 higher low is less likely.Keith Alan, co-founder of monitoring resource Material Indicators, cautioned over categorical pronouncements on how bullish or bearish Bitcoin really is. Volatility up and down had come from Grayscale’s legal victory over the Securities and Exchange Commission (SEC), followed by the latter’s delaying a decision on the first U.S. Bitcoin spot price exchange-traded funds (ETFs). Bitcoin market structure has not undergone any fundamental overhaul, Alan argued. The key support zone to watch is $24,750, with Bitcoin “bearadise” at risk of entering should it fail.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Skew, Keith Alan |
| Companies | Securities and Exchange Commission (SEC), Material Indicators, Binance, Grayscale |
| Currencies | Ethereum, Bitcoin |
| Securities | None |
