Analyst: Bitcoin Jam Up Till October Because Negative ETF Flows
Crypto analyst Josh Olszewicz dey warn say Bitcoin still dey for technical holding pattern, e no get anything to do till October. One recent Bollinger Band squeeze break comot down as US job data weak, geopolitical tension dey rise, plus negative BTC ETF flows. Season-wise, August and September normally soft for both equities and crypto, e dey confirm say volatility low and risk-reward profile quiet. Key indicators include potentially bearish TK cross for Ichimoku Cloud and institutional long positions for CME Commitment of Traders data dey go down. Traders dey eye the $117K–$120K zone as possible place for reentry if BTC fit regain am within two weeks. Short-term outlook neutral, dem dey watch gidigba till October wey known to get stronger performance show.
Neutral
Josh Olszewicz outlook dey driven by negative ETF flows, bearish Bollinger Band squeeze, weak Q3 seasonality, plus near Ichimoku TK cross. For history, Bitcoin dey usually consolidate for August–September before e bounce back for October, like wetin happen after spot ETF approve for 2023. Short term, low volatility plus small risk-reward make traders dey sideline, so market impact remain neutral. But long term story still dey: if October catalysts show, Bitcoin fit continue to rise. This balanced view na like old pattern wey happen for late year rally after summer consolidation.