This is my updated TA for Bitcoin as we approach Q4.

Yellow Trading Range
I think BTC has been trading within a channel between the two yellow trendlines. I think there could be another dip and buying opportunity. BTC is trading near the bottom of the yellow range, and there could be a potential shakeout down to $50.2k in October.

Red Resistance Zone from Previous All Time Highs
BTC has traded within the red resistance zone, which was resistance from the previous cycle’s all time highs. BTC is attempting to flip this red zone into support by building support around $53.5k. However, there has been resistance at $69k and BTC needs to form a bullish breakout above $69k to start the bull run.

$60.4k – $61.2k Support Zone
In the short term there is a key support zone between $60.4k and $61.2k. There has been a lot of bullish momentum in Sept in anticipation of a Q4 rally so I would monitor $60.4k – $61.2k as the first key support level that bears need to break to send the price down lower. I think BTC will gradually trend down towards the later half of this week, and I would be interested in seeing if BTC holds above this $60.4k – $61.2k support zone during late Sept, early October.

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