What Should We Know About Bitcoin This Week?

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Bitcoin recently launched its first full September week with the price action at loggerheads- which belied the question- Would a price resistance of $26,000 return? After a weekend that could be characterized as quiet, the dust has finally gone on to settle on the volatility that was present the previous week- with the crypto markets returning to business as usual.

The cryptocurrency, nevertheless, has been lingering in some form of familiar territory- but without any trend of sorts, analysts and traders have been quite undecided about the next moves that it should be making. As it stands, there is absolutely no shortage of downside BTC price with these predictions- with price ranges of about $25,000, $24,750, and even $23,000 all turning out to be pretty popular targets in the last few weeks.

The Weekend Price Of Bitcoin Has Chopped Up BTC Shorts

On the other side of the spectrum, the bulls of Bitcoin are already thought to have a far more difficult task in winning back the market momentum. With the fundamentals of the network set to be quite consolidated- along with recent gains of their own, coupled with quiet macro markets, the next question is to determine if September 2023 will just be a classic month of single-digit losses for BTC/USD exchange. 

It has been understood that Bitcoin did prop up quite a few surprises in its out-of-hours weekend trading- which as a status quo definitely continued with the United States equities markets only opening on the 5th of September. But for the large part of two days, the exchange has been acting in a tight $200 corridor, according to data that was retrieved from TradingView and Cointelegraph Markets Pro. Interestingly, modest spikes on both sides do belie the presence of speculative exchange players.