This week, Bitcoin experienced a sharp price drop, raising interest among analysts about future market movements.
Bitcoin Faces Resistance at 116K
Bitcoin has dropped to $115,193, nearly 3% lower than yesterday's peak of $118K. Analyst Doctor Profit claimed that this drop was anticipated, as he predicted a short-term decline. Bitcoin is now struggling to break through the key resistance zone at $116K, where buyers and sellers are in a tense battle.
Historical Data Indicates a Tough September for Bitcoin
Historically, Bitcoin has ended September with losses in 8 out of 12 instances, showing an average decrease of -3.77%. This fact supports Doctor Profit's forecast of a potential strong correction in September.
Doctor Profit's Strategy for September
Doctor Profit has proposed a strategy for September, which includes preparing for a correction and the possibility of selling when prices rise to the upper range of the current market. He also noted that selling now and re-entering in September might favorably impact Bitcoin accumulation.
The situation in the cryptocurrency market remains uncertain, and the coming weeks may be crucial for Bitcoin in terms of pricing and reactions to important economic events.
