BTC Sentiment Poll for September

[tokeweed]

I missed a month of our sentiment thread as I got sick at the end of July and got worse a couple of days into August.  But yeah, now it's back.  A couple of days late tho.

So in August we saw BTC open around 65k, had a sell down to around 49k then tried going back up to 65k but didn't make it...  So of that's the range, what do you guys think will happen this month?

[Oshosondy]

I guess bitcoin is not going below $50000 this month. If that would happen, not this month. I also guess bitcoin may find it hard to increase above $65000. Last month will be more volatile than this month. But bitcoin price is still not that volatile if compared to other cryptocurrencies.

[EarnOnVictor]

I don't have any high hopes for Bitcoin in September and if the current market pattern is preserved, it's possible that the market will be pressured further. Bitcoin has been plunging lower ever since it fell out of liquidity grace in March and sellers have been unrelenting and will continue to plummet it to a lower level having breached some important supports at various timeframes.



According to the above weekly (left) and daily (right) charts, the price action of of the market is negative and the current 1W and 1D candlesticks are bearish. Again, the inability of the market to break above the resistance at $62,270 will continue to pressure it and perhaps the low of August at $48480 will be retested this month.

[Majestic-milf]

 I'm a bit optimistic about the price and that we may see it going higher than it is currently at $57,885.67. September is usually shaky for it's price but we'd agree that what we've been seeing in previous years is way different in a positive way in terms of price movement this year so it's just best to wait and watch.
 I expect price to hit the $60 something range this month and remain there.

[YOSHIE]

What do you guys think will happen to BTC this month?

Maybe we will see various speculations regarding the development of Bitcoin prices for September 2024, where it could be said that historically for Bitcoin this month has not been very good or is often talked about by Bitcoin experts as being less profitable, in terms of speculation that I have seen.

For example: speculation graph.


In my understanding there are several factors that make Bitcoin prices this month unfriendly, for example: about Federal Reserve policy and other factors, the impact of the performance of technology shares which we know currently originates in the US and other factors, The point is, whatever can influence the price of Bitcoin this month, it doesn't mean we think negatively, the positive impact for the future is greater than expected and imagined.

[Yaunfitda]

I missed a month of our sentiment thread as I got sick at the end of July and got worse a couple of days into August.  But yeah, now it's back.  A couple of days late tho.

So in August we saw BTC open around 65k, had a sell down to around 49k then tried going back up to 65k but didn't make it...  So of that's the range, what do you guys think will happen this month?

Oh, That's why I'm looking for your "X month" sentiments poll, hopefully you are doing ok.

It's very hard to look at what September offers, but for now, we might retest the $50k-$55k level again. At the start of September, we are still looking very bearish that's why I say that we will retest to even as low as $50k'ish.

I'm also trying to look if there are correlations with other market as well, specially S&P. Do others look that way as well?

[Kemarit]

I voted for : Range bound between 49k - 65k

Most likely we might be on another sideways pattern, or worst we might see $50,000 again as going to be the lowest low for this year or for this bull run for that matter. It could be that investors are tired or just waiting for what is going to happen in the US election.

Not saying that is it the means for us all, it's not, but we all know that geo politics specially coming from a big country such as US will have a big influence on the market. So maybe after the US election and if we know if we have a pro crypto President, maybe in November we might see the first big move post-halving. So for now, for me  the price moves between a support level at $49,000 and a resistance level $65,000.

[Zaguru12]

I'm a bit optimistic about the price and that we may see it going higher than it is currently at $57,885.67. September is usually shaky for it's price but we'd agree that what we've been seeing in previous years is way different in a positive way in terms of price movement this year so it's just best to wait and watch.
 I expect price to hit the $60 something range this month and remain there.

Yeah the year has been different from other previous halving years with some price spikes happening in months were we predicted a fall of the price, but one thing is the market has actually started obeying the past trends base on the historical record if we look at the price we will see the Q3 has actually been bearish and with the way September has been a bearish month in the past I am h going to be pessimistic about it and say we will be experiencing bearish period but the difference will be it won’t be volatile as the other Septembers because of how the volatility of bitcoin has been in decline this days. I see it testing the $52k mark and then going back to the region of $57k to $62k and keep ranging there for the month

[OgNasty]

Short term things don’t look great. A revisit to $49K wouldn’t surprise me at all. This is probably the worst we’re going to see though. I’m expecting that 60 days from now we will be higher and running towards price discovery. Feels like we’re due for one last shakeout before that happens. We shall see…

[Odusko]

I guess bitcoin is not going below $50000 this month. If that would happen, not this month. I also guess bitcoin may find it hard to increase above $65000. Last month will be more volatile than this month. But bitcoin price is still not that volatile if compared to other cryptocurrencies.

Nah mate we are far from such market downtrend in bitcoin right now, and for sure the lowest benchmark have been achieved for this period of time, i don't think bitcoin can go below 55k anytime now, before we possibly see a long walk around the 58k-65k for sometime before any final break out of price, many bitcoin investors and speculators have predicted the opposite of what is currently happening in the price of the most dominant coin in the market (bitcoin), while some have been on bullish mode since after bitcoin halving.

Others have been on bear mode and they are the set of speculators who are predicting a Bitcoin benchmark of below 50k and their aim is to have the opportunity to buy back what they have already missed or the profits they Cashout when the last bitcoin all time high price happened, but mostly those that have anticipated positive price movement for bitcoin are still very much higher than those that expect it price to drop from what it is right now.

We have to keep our fingers crossed to see what becomes the outcome with bitcoin as far as the market is concerned and what attempts we make to position ourselves in the best possible ways so that we can benefit from the market situations when their and it happens, and the way we can do that is to effect a proper DCA tool and approach.

[Wexnident]

I don't expect to see it going down again, we've mostly been going the same pattern for the past 6 months, albeit going slowly so I expect it to steady itself back up, but still the same pattern of up and down between 70k and 55k. That's for the probably next 2 months anyway. I reckon by the end of the year we'd see more positive prices, maybe stable at around 60-65 ish.

Lowest I'd expect it to go is hovering around 50-55k.

[Smartvirus]

There haven’t been a lot of effort from the bulls to push price above the $61k price mark. Bitcoin have been experiencing a lot of resistance about that point as price easily drops right back to around $55-58k. You don’t get to expect much from Bitcoin with such move.
I don’t think we would be hitting any ATH in this month still. We would still remain in the ranging market with series of ups and downs except, something serious really does happen, a news that could greatly influence and impact the market to bring in eagle investors.

[philipma1957]

I think we hit 47-49k for some period time this month

[shinratensei_]

I will ride the narrative that we gonna have bearish sentiment this month, people are buying the superstitious idea of september being the red month of bitcoin, well if people have that kind of idea, I won't risk it longing BTC right at the early september.

if we ever touch $49k, then maybe it's a good opportunity to buy at that price point since the price will probably rebounce the next month anyway.

so as long as the RSI shown oversold and price is low enough it's gonna be great opportunity all around.

but I don't expect the market to go too far below $49k since previous moment when we see BTC touched $49k price point it rebounced so hard it reached $60k again in just few days.

[hugeblack]

I missed a month of our sentiment thread as I got sick at the end of July and got worse a couple of days into August.  But yeah, now it's back.  A couple of days late tho.

Good to know you are doing well and healthy.

I don't know why there is negative sentiment but being above $50k so far is an accomplishment.

We have a strong support level around $52k and we need some real bad news to break it so I don't think we will stay below $52k for long.

On the other hand it is hard to see $73k levels in the next few days.

So we will be between $50k and $65k.

[d5000]

I've voted for "above 65k", although of course nobody can be sure about that, and I would only set the likelihood at slightly over 50%.

My reasoning is the following: We are since March in a slightly bearish price channel. There are some signs however that the August dip in the 50k area was a local bottom, mainly the heavy volume which was similar to the volume near the March ATH, but also the fast recovery into the high 50s and later periodical revisit of 60k+.

This indicates that in the low 50s there are a lot of "dip fishers" who could also become active again if we dip again into these regions. If the dip goes significantly below 50k, I believe those "believer buys" could intensify, although in this case I don't rule out a break of 45k due to likely long liquidations and stop losses in that area.

If however the 50k region holds, and this means for me everything with a local low above 47-48k approximately, then the fear of those who now sell in the high 50s and low 60s creating a ceiling on the price, could slowly evaporate. Once first FOMO signs set in I think the high 60s are a real possibility in this month, maybe even 70k+. We have seen in the recent past several price surges from the high 50s to 70k+, even in July when still the panic about MtGox was looming.

There's also this (imo not very rational, but existing) sentiment that October could be a good month, and I believe many would try to anticipate that buying in September. Just this combination can lead to the first FOMO signs I mentioned.

I don't think we'll see an ATH in September but a higher high (significantly above 65k) in about 2-3 weeks wouldn't surprise me at all.

[ethereumhunter]

I choose "Range bound between 49k - 65k" because after the correction happen in the market, I think that the correction can continue and makes Bitcoin price getting down for more. Although we don't know how deep the price will go down, we must prepare for the bad things that can happen so we can use that for our benefit. Maybe we will see a flash dump happen to Bitcoin so that will be a good time to buy more if we see that. Or we can place our buy order so we will not be late to buy Bitcoin at a low price. But we must not be too worry with the news that will comes because that can makes us can not thinks clear of what will happen later. We must remain calm so we can see the opportunity to buy more Bitcoin.

[tokeweed]

I think we hit 47-49k for some period time this month

Oof please no...  That would send my staked alts and my memes way below than the ranges I'm comfy at. 

I missed a month of our sentiment thread as I got sick at the end of July and got worse a couple of days into August.  But yeah, now it's back.  A couple of days late tho.

Good to know you are doing well and healthy.

I don't know why there is negative sentiment but being above $50k so far is an accomplishment.

We have a strong support level around $52k and we need some real bad news to break it so I don't think we will stay below $52k for long.

On the other hand it is hard to see $73k levels in the next few days.

So we will be between $50k and $65k.

Thanks...

As for the 52k support, yeah man.  Let's hope it holds and some whale picks it up from there an send this thing straight above 70k.  Getting tired of these chops.

I've voted for "above 65k", although of course nobody can be sure about that, and I would only set the likelihood at slightly over 50%.

My reasoning is the following: We are since March in a slightly bearish price channel. There are some signs however that the August dip in the 50k area was a local bottom, mainly the heavy volume which was similar to the volume near the March ATH, but also the fast recovery into the high 50s and later periodical revisit of 60k+.

This indicates that in the low 50s there are a lot of "dip fishers" who could also become active again if we dip again into these regions. If the dip goes significantly below 50k, I believe those "believer buys" could intensify, although in this case I don't rule out a break of 45k due to likely long liquidations and stop losses in that area.

Appreciate people who look at PA more than the macro stuff which doesn't make all much sense to me since usually if you're trading based on macro or 'the news', you're almost always too late.

[mirakal]

I'd never see the reason for the declining price of bitcoin these days, but yes, I still live in confidence that it never drops below $40k. Instead, I was looking forward to it rising again as the ber months started. But as seen in previous years, September is not a good month for crypto, many price corrections are happening, which can possibly happen this year again. Although we don't hope for that to happen, as usual, we don't expect too much for a huge recovery as well. If the price stays at $60k, that would be wonderful, but if the price stays below $50k, I'm sure many investors feel disappointed, especially newcomers. 

Well, the sentiment remains uncertain, but of course, our faith is still there, and we all hope for a better market position. Holding seems to help a lot more than panic selling, and I hope everyone takes it seriously. 

[BABY SHOES]

I don't expect to see it going down again, we've mostly been going the same pattern for the past 6 months, albeit going slowly so I expect it to steady itself back up, but still the same pattern of up and down between 70k and 55k. That's for the probably next 2 months anyway. I reckon by the end of the year we'd see more positive prices, maybe stable at around 60-65 ish.

Lowest I'd expect it to go is hovering around 50-55k.

But I see the bitcoin market continuing to dive down maybe the lowest area in the range of $45K as its lowest point but I don't really expect this to happen at least $50K to be the most point in this month.

Of course you have to look at the history before about September but we know this month has always been red in recent years and people even say it's not a good month but I don't mind if it only passes this month at least in October I want to see bitcoin recovering in the $65K area.