Finally, we’re in September, and as you know, everyone is saying it’s going to be a bearish month for crypto since historically it has always been bearish.
But you know we don’t just listen to anyone so let’s dive straight into the chart and see what’s really going on.
Before we discuss the current picture lets revise what we discussed in my last Bitcoin update.

We discussed the weekly fake-out/SFP and i said its not something to ignore as every time there was a weekly SFP's it had significant impact

It played out and Bitcoin went down almost 14%.
So Whats now?

Structurally Bitcoin is still fine and it will remain bullish as long as price is Above $100k.
Lets drop it down on different timeframes.
BTCUSD (Weekly)

Bitcoin is sitting around it weekly demand zone. If you were not bearish from the SFP to here, I think this is not the right area to flip bearish. In my opinion its the zone where you should be looking for some buy setups, personally i will be doing it as the weekly structure is still bullish and i don't want to bet against the trend.

Maybe the bottom is already in, as price tapped the demand zone and swept last week’s low. If not, I still think Bitcoin will find support around this zone, and we’ll likely see it move higher from here.
BTCUSD (Daily)

The daily chart is the one worth watching, as it’s clearly bearish right now. Price has broken its structure and I want to see it reclaim $112K and hold above it only then i will feel confident about turning bullish. As long as price stays below $112K, bears remain in control. Personally, I don’t want to see price spend too much time under this level a quick reclaim this week would be ideal.
The quicker, the better.
The September Dump Caller
Most of the traders are expecting September to be bearish but they ignore the fact that the market can price in the events before they actually happen.

Bitcoin has already been dropping for days. I’m not saying it’s certain, but it’s possible that September’s bearishness is already priced in.

That's it for this week's update, I am more into buying than selling into a weekly demand zone, Don't really care what people are expecting i am ready to buy their Fear if we see some discounts. September is just started. We will see where will it ends.

Let me know your thoughts