BTC Price Alert: Sideways Now, painful correction that will be in September

The Bitcoin meeting to record Highs only a few days ago has quickly given way to turbulence, whereby the leading cryptocurrency is struggling to maintain support levels.

Now a market analyst warns that side road action could dominate trade until September, possibly followed by a steep correction.

Analyst Braces for a red September

On Sunday Crypto Trader Doctor Win told his nearly 425,000 followers on X that Bitcoin will probably consolidate Within a narrow reach from about 8% to September before he undergoes what he described as a ‘very red month’.

Last week the analyst precisely predicted BTCs pump to $ 123,000 and the subsequent decrease. This time, however, his assessment shows a limited trade band for the cryptocurrency until September. “I expect a sideways movement within the reach that is shown on the graph. This is a small central range of only ~ 8%,” he said, advising against expecting important directional breaks.

However, according to him, a different picture will present next month. “In September I expect a strong correction,” he claimed.

Although he apart from providing details, the analyst emphasized the importance of strategic positioning for shorts in that month, and said, “The herd will panic,” and urged traders to take advantage of the dip.

His comments came to the aftermath of a fleeting week before Bitcoin, in which the assets briefly set up a new of all time above $ 124,000 on August 14, before they slid sharply after the warm than expected American inflation data.

Other analysts have shown the caution of Doctor Profit. For example, Capital stretches noted That in earlier cycles similar retracations between 25 and 30% served as setups for large rallies, but emphasized that timing matters. Meanwhile, colleague trader Titan van Crypto marked $ 119,500 if a level BTC has to win back to keep its bullish outlook intact.

Market forecasts

At the time of this letter, Bitcoin traded at $ 115,670, with 2.1% a decrease in the last 24 hours and 5% during the week. In the past seven days, the OG -Crypto has waved between $ 115,355 and $ 123,782, which is a representation of increased volatility. Despite the setback, it remains almost 95% on an annual basis, which underlines its strength in the longer term.

The wider market follows Bitcoin’s lead. Ethereum, which reached $ 4,700 last week, slipped, but remains well above the lows of the summer. Other important cryptocurrencies, such as Solana (SOL) and Dogecoin (DOGE), have experienced daily losses of 4 to 5%, while Chainlink (link) and Cardano (ADA) have tarted the decline by placing 9.7% and 10.4% weekly profit respectively.

From a technical perspective, trade signals provider material indicators warned In a post of 18 August on X that the failure of BTC to break out above his 21-day advancing average could weigh on the short-term price action, which suggests that more downward risks for another leg higher.