Bitcoin price posting best September since 2016 as BTC sellers eye $27.5K

Bitcoin (BTC) bulls lost their grip on $27,000 into Sept. 30 as the monthly and quarterly close loomed large.

BTC/USD 1-hour chart. Source: TradingView

Bitcoin braces for three key candle closes

Data from Cointelegraph Markets Pro and TradingView tracked a cooling off for BTC price action ahead of the key September candle print.

The largest cryptocurrency remained up nearly 4% month-to-date, marking its most successful September since 2016, per data from monitoring resource CoinGlass.

BTC/USD monthly returns (screenshot). Source: CoinGlass

Conversely, the quarterly performance for Q3 showed BTC/USD down 11.5% at the time of writing.

BTC/USD quarterly returns (screenshot). Source: CoinGlass

For traders and analysts, everything could change in the final hours of the monthly candle.

“In the past, a green September resulted in a green October, November and December as well,” popular trader Jelle noted in part of the day’s X analysis.

“Will history repeat?”

The day prior, Jelle predicted better conditions for Q4, including a breakout past $30,000 for the first time since early August.

After months of accumulating coins, and slowly preparing us for the bull market, I think its time.

Expecting Q4 to bring new strength — and a break of $30k.

Send it.#Bitcoin

— Jelle (@CryptoJelleNL) September 29, 2023

“Textbook bearish technicals”

Meanwhile, Monitlonger and shorter timeframes.

Related: Bitcoin halving to raise ‘efficient’ BTC mining costs to $30K

Beyond the monthly and weekly close, the impending United States government shutdown should continue to suppress BTC price action unless a solution is found in time, it added.

We are heading into the last #trading day of the month with textbook bearish Technicals from the Key Moving Averages on Daily, Weekly and Monthly TFs and #TrendPrecognition is flashing a new #TradingSignals on the #BTC Daily chart as if it knows we have a looming U.S.…

— Material Indicators (@MI_Algos) September 30, 2023

“There is a high probability that killer whales will be amping up the weekend whale games around Daily, Weekly, and…



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