I strongly recommend selling your Bitcoin holdings now or in the near future, because in 2026 we will see Bitcoin below 60,000 USD! I will tell you why in this analysis.
But first let’s look at the local price action on the daily chart and what is going to happen with Bitcoin in the short term. I expect Bitcoin to fall to 110,600 in the immediate short term; this is my first profit target for the intraday position. Why is 110,600 a strong support? We have the first FVG on the daily chart that has never been tested, and also we have a 100-day moving average. This is a pretty good support for intraday trades.
Later in September we will probably see Bitcoin at 104,800. Why is 104,800 a strong support? We have to look at the previous price action from May to July, because we have a range/bull flag, and there is also an unfilled FVG. The previous major swing low of 105,130 is something where people put a lot of stop losses below it. That’s a magnet for whales; they probably want to buy here. Also, there is the 0.382 Fibonacci retracement level of the previous impulse wave.
Why is Bitcoin so bearish now? Well, we have completed an impulse wave 12345, and also the red trendline is breaking down! That’s in general a bearish price action. Early in the article I was talking about 60k BTC – for this, you need to look at my previous analysis to understand the full picture.
Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
