Trader: Bitcoin market “feels different”
At the time of writing, BTC/USD traded at near $26,300, still up 5.5% versus its September lows.
“Market feels different this week. Dips being bought up relatively quick and while price keeps sweeping highs it keeps crawling itself back and leaving lows untouched,” he wrote.
“Spot bid also stronger than the past few weeks. Might be wrong but I’m optimistic.”
$BTC.D Still holding on to the previous range high and bouncing.
More cautious was trader Skew, who referenced on-chain volume primed to cool once more after a “relief rally.”
“Daily structure looks fairly good here & decreasing volume so could definitely be looking towards a relief rally before lower,” part of commentary read, noting that BTC/USD was still holding the key $25,000 level.
First “green” September in seven years?
Up 1.15% month-to-date at the time of writing Bitcoin was nonetheless on course for its best-performing September in years.
That year was its best on record at 6.35%, while its biggest “red” September month two years prior, when it lost 19%.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.