Bitcoin in September: $113K Key Level, Altcoin Season Imminent
Bitcoin price has corrected over 15% from its all-time high of $124,457. September is historically a weak month for Bitcoin. Analysts warn that a failure to close above $113,400 could extend the downtrend toward $100,000 and $90,000. However, RSI indicators and volatility compression suggest early signs of bullish range expansion. Crypto Patel highlights 30-day volatility rising from 3% to 9%, with momentum likely to strengthen if it hits 15–20%, signaling a full expansion phase above 25%.
Technician Javon Marks points to a similar RSI setup in August 2024 that preceded a 110% rally to new highs. On the bearish side, Michael van de Poppe expects a test of the $100K–$103K range before Q4. Analysts also forecast a capital rotation from Bitcoin to Ethereum as OG holders take profits, setting up an altcoin season. Meanwhile, meme token TOKEN6900 has raised $3.23 million in a presale offering 33% APY. Traders should monitor key support and resistance levels and upcoming volatility signals.
Neutral
The article presents mixed signals for traders. On one hand, Bitcoin’s RSI rebound and early volatility expansion indicate potential bullish momentum. Analysts like Javon Marks anticipate a major rally if similar range setups play out, and Crypto Patel’s benchmarks suggest a shift toward higher volatility and price gains. On the other hand, failure to close above the critical $113,400 resistance would maintain the downtrend, with potential tests at $100,000 and $90,000. Historical patterns show September as challenging for Bitcoin, and near-term forecasts from Michael van de Poppe warn of further dips before any recovery. The anticipation of an eventual capital rotation to Ethereum and an altcoin season adds long-term bullish context. The balance of these opposing technical and historical factors yields a neutral near-term impact, with traders advised to watch key levels and volatility cues for directional confirmation.