As Bitcoin moves into a “anxiety stage,” it could suffer more losses in September; but, fresh research suggests that a possible comeback could follow.
Though sentiment and historical data indicate to greater negative risk, market watchers see a breakthrough in the next weeks. After a period of lower lows, crypto expert Mikybull sees a bullish divergence developing on the daily chart of Bitcoin, therefore indicating increasing market momentum.
“Bitcoin is nearing the breaking point out of the range.”
Bitcoin Faces Anxiety Stage Losses
Usually, this pattern points to a possible reversal from down trends. The analyst pointed out in a Sept. 13 X post that Bitcoin is retesting a critical support level, which would set off a price climb beyond $92,000.
“In previous cycles, when the price retested the 50-week simple moving average, it bounced at least 40%. On average, the bounce was 71%. If BTC rallies 71% from here, it could reach $92,000.”
Analyst Titan of Crypto also expressed this viewpoint, implying a possible break-through should Bitcoin maintain its present support. Based on the net unrealized profit-to—loss ratio, CryptoQuant contributor Axel Adler clarified later that Bitcoin is at the “anxiety stage.” This implies that a lot of short-term investors are losing money, thereby pointing to a market bottom.
“After the Belief stage at $72K, Net Unrealized Profit/Loss (NUPL) shows a green bar, which corresponds to the Anxiety stage. Investor anxiety, if you’re not an LTH, is a permanent process, the best remedy for this is HODL.”
Another well-known analyst, Rekt Capital, pointed out that BTC present path corresponds with its historical September performance, usually bearish. According to CoinGlass data, September marks the lowest month for BTC with averages of -4.69% returns.
Even if temporary difficulties still exist, these technical signals and past trends point to BTC perhaps preparing for a notable comeback following this period of uncertainty.
