Bitcoin Ends September and Q3 on a Positive Note


Bitcoin (BTC) had two major candle closes yesterday, as it ended its monthly and quarterly candles.

Although the anticipation of this close didn’t inspire any significant volatility, the cryptocurrency was able to maintain its footing above $10,500 before and after the close, which gave bulls significant strength earlier today. The strength gotten from this close caused Bitcoin to soar close to the $11,000 target, recording a high of $10,930 before retreating.

The next major task for Bitcoin bulls is to break the $11,000-200 resistance zone. The selling pressure in this area is said to be strong and could thwart BTC’s growth in the coming days and weeks.

That said, one analyst has reiterated that bulls are currently in a very favorable position following yesterday’s candle closes. He said that this makes it more difficult for bears to take control again, adding that they would have to push BTC below the $10,200 support to regain dominance.

BTCUSD – Hourly Chart

Key BTC Levels to Watch in the Near-Term

Technically, Bitcoin has fallen back under $10,600 in a recent burst downwards. It appears that this decline was charged by a fundamental factor earlier today.

BitMEX, a major Bitcoin derivative exchange, got rocked with a scandal today, following the discovery by the CFTC that the owners of the exchange were operating the exchange illegally and were breaking anti-money laundering rules.

The news caused the benchmark cryptocurrency to drop to the $10,450 level in just a few hours. However, considering that BTC was trading positively before the news broke, it is expected to recover healthily in the coming hours.

The key bullish hurdle to scale in the near-term remains the $11,000 psychological line.

Total market capital: $339 billion

Bitcoin market capital: $195 billion

Bitcoin dominance: 57.5%

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.