Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Will Ethereum Hit a New All-Time High This Year? Odds Favor Bulls: Analysis

01/08/2025

Unveiling a Billion-Dollar Empire’s Bold Expansion

01/08/2025

Bitcoin mining faces surging power demands and record-low fees

01/08/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Bitcoin Blasts Past $122K to Fresh ATH But Can the Momentum Hold?

    01/08/2025

    Bitcoin Averaging 1.2 % Per Day in July — Can BTC Hit $150 K Before August?

    01/08/2025

    Bitcoin Traders Watch These 4 U.S. Economic Signals Closely

    01/08/2025

    Bitcoin-Fueled Sell-Off Triggers $1.1 Billion in Crypto Liquidations

    01/08/2025

    Will Ethereum Hit a New All-Time High This Year? Odds Favor Bulls: Analysis

    01/08/2025

    What Ethereum built in ten years — and what it still hasn’t delivered

    01/08/2025

    Ethereum to $5,140? Analyst Names Two Scenarios for ETH Price Target

    01/08/2025

    Three reasons why Ethereum rally to $10K dream is alive in 2025

    01/08/2025

    The Sui Ecosystem’s Top 3 Altcoin Performers

    29/07/2025

    Floki Launches $69000 Guerrilla Marketing Challenge With FlokiUltras3

    28/07/2025

    Crypto Beast denies role in Altcoin (ALT) crash rug pull, blames snipers

    28/07/2025

    $1.6 Billion XRP Surge: Here’s What’s Unfolding

    28/07/2025

    Labubus have succeeded in every way that NFTs have failed

    01/08/2025

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    31/07/2025

    NFT sales surge to $574 million in July, second-highest in 2025

    31/07/2025

    Crypto Scammer Gets Prison Time for Swiping NFTs, Coins via Hacked X Accounts

    31/07/2025

    Will Ethereum Hit a New All-Time High This Year? Odds Favor Bulls: Analysis

    01/08/2025

    Unveiling a Billion-Dollar Empire’s Bold Expansion

    01/08/2025

    Bitcoin mining faces surging power demands and record-low fees

    01/08/2025

    EToro Plans to Tokenize U.S. Stocks on Ethereum in Blockchain Push

    01/08/2025
  • Blockchain

    EToro Plans to Tokenize U.S. Stocks on Ethereum in Blockchain Push

    01/08/2025

    Circle Wallet’s Strategic Leap for Web3 Developers

    01/08/2025

    Pyth Network brings Hong Kong stock prices onchain for global access

    01/08/2025

    Lombard Finance Launches LBTC on Etherlink, Bringing Bitcoin to Tezos Layer 2

    01/08/2025

    RedStone Brings Real-Time Liquidations and Native MEV Capture to Lending Protocols With Atom

    01/08/2025
  • DeFi

    Harbour Industrial Capital Invests $1.2 M into Four High-Growth Polkadot Ecosystem Projects

    01/08/2025

    Ripple Hiring Executive to Spearhead Institutional DeFi Strategy

    01/08/2025

    Clearpool Expands to Payments Financing, Debuts Stablecoin Yield Token

    01/08/2025

    Phenomenal $8 Billion Surge Redefines DeFi Stability

    01/08/2025

    Ceffu Connects Binance Liquidity to Orderly to Unlock CeFi-DeFi Union

    01/08/2025
  • Metaverse

    From Metaverse to Machine Learning, Inside Meta’s $72 Billion AI Gamble

    31/07/2025

    AntVerse Integrates Terminus to Transform AI-Powered Metaverse with Web3 Payments

    25/07/2025

    The Sandbox Launches Largest LAND Auction Using GBM Protocol

    21/07/2025

    Elon Musk’s xAI Quietly Fixed Grok by Deleting a Line of Code

    09/07/2025

    Bonk.fun Grabs 55% of Solana Token Issuance Share, Pushes BONK Demand

    08/07/2025
  • Regulation

    Unveiling a Billion-Dollar Empire’s Bold Expansion

    01/08/2025

    Wall Street Set to Benefit as In-Kind Crypto ETF Redemptions Gain Momentum

    01/08/2025

    Altcoins, NFTs Lure Risk-On Buyers: Crypto Daybook Americas

    01/08/2025

    Plume and Colb Finance Partner to Tokenize Pre-IPO Equities on Blockchain

    01/08/2025

    MARA Holdings Plans $850M Convertible Note Offering to Fuel Bitcoin Buys, Repay Debt

    01/08/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Sui DEX Momentum Teases Expansion Plans After Hitting $100 Million in Daily Volume

    31/07/2025

    $500,000,000 USDC Stun World’s Largest Crypto Exchange Amid Hourly Bloodbath

    31/07/2025

    Bithumb Temporarily Halts Celestia (TIA) Transactions!

    31/07/2025

    Coinbase in advanced talks to acquire India’s largest crypto exchange CoinDCX

    31/07/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    31/07/2025

    PEPE GAMES Integrates with GaFin to Power the Meme Gaming Hub

    30/07/2025

    A Pressure Group Forced Steam to Remove Adult Games. It’s Coming After Crypto Next

    30/07/2025

    On-Chain Games Don’t Have a ‘Secret Sauce,’ YGG’s New Advisor Says

    28/07/2025

    Bitcoin mining faces surging power demands and record-low fees

    01/08/2025

    Auradine Shipped $73M Worth of Bitcoin Miners to MARA in H1 2025

    31/07/2025

    London Bitcoin Company Surpasses 1,000 Miners in North America

    31/07/2025

    Bitcoin Miner MARA Is Missing Out on AI Boom: Compass Point

    31/07/2025

    COINS Act 2025 Offers a ‘Rights-First’ Roadmap

    31/07/2025

    GENIUS Act to spark wave of ‘killer apps’ and new payment services: Sygnum

    31/07/2025

    Bitcoin Scandal Erupts in China – Chinese State Newspaper Reports

    31/07/2025

    No Ruling Yet as Standard Approval Process Slows Progress

    31/07/2025

    Will Ethereum Hit a New All-Time High This Year? Odds Favor Bulls: Analysis

    01/08/2025

    Unveiling a Billion-Dollar Empire’s Bold Expansion

    01/08/2025

    Bitcoin mining faces surging power demands and record-low fees

    01/08/2025

    EToro Plans to Tokenize U.S. Stocks on Ethereum in Blockchain Push

    01/08/2025
  • MarketCap
NBTC News
Home»Bitcoin»How September’s Close Could Change Everything
Bitcoin

How September’s Close Could Change Everything

NBTCBy NBTC27/09/2023No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


Renowned crypto analyst Rekt Capital has recently highlighted the pivotal nature of the Bitcoin price’s imminent monthly candle close. In a statement via X (formerly Twitter), he detailed that Bitcoin has tagged the $27,000 monthly level from the underside, meaning it is acting as resistance for the time being.

He explained that “the upcoming monthly candle close is just around the corner. Bitcoin needs to monthly close above $27,091 for this to be a fake-breakdown. Otherwise, the breakdown will be technically confirmed.”

To give this statement some historical context, the preceding month – August – saw a significant development for the flagship cryptocurrency. BTC registered a bearish monthly candle close, finishing below approximately $27,150. This data point, according to Rekt Capital, effectively confirmed it as lost support.

Reflecting on this development at the time, the analyst had conveyed that it is possible BTC could surge to $27,150, “maybe even upside wick beyond it this September. But that would likely be a relief rally to confirm $27150 as new resistance before dropping into the ~$23000 region. $23000 is the next major Monthly support now that ~$27150 has been lost.”

Bitcoin price analysis by @rektcapital

Is Bitcoin Following Historical Patterns?

Rekt Capital’s observations about Bitcoin aren’t made in isolation but are deeply rooted in Bitcoin’s historical price and cycle behaviors. Drawing parallels to previous patterns, he had previously shed light on Bitcoin’s tendencies around 200 days before a halving event.

“At this same point in the cycle (~200 days before the halving): In 2015, Bitcoin retraced -24% within a re-accumulation range, but price consolidated for months going into the halving. In 2019, Bitcoin retraced -37% as part of a downtrend that continued for months going into the halving.”

These historical retracements at a similar juncture have given rise to two essential insights, as stated by Rekt Capital. First, an immediate retracement has occurred at this same point in the cycle. Second, a repeated retrace of between -24% to -37% in 2023 would lead Bitcoin to retest its macro higher low, possibly pushing its price under the $20,000 threshold.

Bitcoin historical pattern
Bitcoin is ~200 days before the halving | Source: X @rektcapital

The analyst didn’t stop there. Accentuating the ideal accumulation phases for investors, he noted, “The best time to accumulate Bitcoin was in late 2022 near the bear market bottom. The second best time to accumulate Bitcoin is upon a deeper retracement in the pre-halving period.”

Shifting the focus to potential future outcomes, Rekt Capital made an intriguing speculation about the potential of BTC’s price movement post-halving: “If ~$31000 was the top for 2023. Then the next time we see these prices will be months from now, just after the halving. Only difference between now and then? In this pre-halving period, BTC could still retrace from here. But after the halving, BTC would break out much higher from current prices.”

To summarize, the upcoming monthly candle close for Bitcoin could have profound implications for the asset’s short-to-mid-term trajectory. All eyes will now be on whether BTC manages to close above or below the critical $27,150 mark – an indicator that could either confirm a technical breakdown or prevail over a historically untypical price rally.

At press time, BTC stood at $26,687.

Bitcoin price
BTC price sees slight uptick, 1-day chart | Source: BTCUSD on TradingView.com

Featured image from Shutterstock, chart from TradingView.com


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Bitcoin Blasts Past $122K to Fresh ATH But Can the Momentum Hold?

01/08/2025

Bitcoin Averaging 1.2 % Per Day in July — Can BTC Hit $150 K Before August?

01/08/2025

Bitcoin Traders Watch These 4 U.S. Economic Signals Closely

01/08/2025

Bitcoin-Fueled Sell-Off Triggers $1.1 Billion in Crypto Liquidations

01/08/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Will Ethereum Hit a New All-Time High This Year? Odds Favor Bulls: Analysis

01/08/2025

Unveiling a Billion-Dollar Empire’s Bold Expansion

01/08/2025

Bitcoin mining faces surging power demands and record-low fees

01/08/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.