Battle of the Titans:
The Fate of Bitcoin at Stake
In the midst of the trading arena, the price of Bitcoin (BTC) continues its war with bearish forces, retreating within a descending channel like an inescapable trench. This channel is fortified with strong dynamic resistance, represented by the exponential moving average that rejects any attempt to breach its barrier.
The real battle is centered at the fortified supply fortress, located between the levels of $111,000 and $112,000. This point is not just a price area, but a pivotal turning point where upward waves break, and every attempt to breach is violently rejected, confirming complete control by selling pressures.
On the other side of the coin, despite the hopes traders place on the Federal Reserve's decision regarding interest rate cuts in September, history warns us. Statistics indicate that September is often a harsh month for Bitcoin's performance, as if it were a month of bad luck. This factor adds weight to the bearish side, especially in the absence of any strong upward momentum paving the way for a sustainable victory.
It seems that Bitcoin's fate is now hanging between fundamental technical forces and a historical battle that repeats every year. Will the bulls find enough strength to break these barriers, or will the bears continue to tighten their grip?
