Important collection restaurants
Will BTC go up in Q4?
Analysts believe that BTC could promote a last leg in Q4 if it defends $ 107k.
What will the next rally katalyst?
Improved institutional question, especially from ETFs, can convert the price momentum to a positive way.
Bitcoin [BTC] has erased all the profits from September after slipping to $ 108k, a dip of 7% of this monthly high point of $ 117.9k.
From his record peak of $ 124.4k was the cryptocurrency down About 12% at the time of the press, which gives rise to a new wave of ‘top’ calls of some quarters.
But swissblock -analysts said The Bullish structure of BTC was still intact. It added that a “last” leg could probably be in Q4.
“Despite the actions of almost $ 107.3k, the earlier local layer from the correction of Augustus, the structure holds holds. Bitcoin shows that it may be preparing for a final round.”
Source: Swissblock
According to Swissblock’s ownership model, the “high risk level” was activated in July, mid-August and mid-September local tops.
From the moment of the press, however, the model was in a “regime with a low risk”, which suggests a potential advantage before another local top prints.
Will BTC ETFs feed the next leg of fuel?
Price Momentum, on the other hand, remained negative despite holding BTC above $ 108k. Swissblock noted that LTH (long -term holder) printing pressure on pressure reflected reflected trends in the late cycle.
Source: Swissblock
The analysis company Said that if BTC ETFs absorb the LTH dump, the price could stabilize and collect.
Unfortunately, the demand for the ETF products fell this week. They saw a high every day Sluice ($ 367 million) on September 22.
The bleeding was higher on Friday to $ 418 million, which brought it, Weekly out Up to $ 902.5 million.
Source: Cryptuquant
If the outflows continue, the price of Bitcoin can remain until the pressure until the end of the second quarter. However, Q4 Historically one of the strongest periods for BTC, with an average return of 85%.
What is the next step for the BTC price?
So, will BTC retain above $ 109k, which also doubled when the STH (short -term holder) realized the price?
The $ 107.5k- $ 109.7k support zone (Cyan) has been crucial in Q3 on the price diagrams. And losing it can accelerate a dip to $ 105k or $ 100k.
Source: BTC/USDT, TradingView
But for that, the OBV (at balance volume) must crack its H2 support to confirm further decline.
If defended, a rebound can be feasible, especially with a daily close to $ 112k. In such a scenario, $ 114k and $ 118k will immediately be bullish goals.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer