Market analysts are keenly analyzing Bitcoin’s technical landscape as the cryptocurrency trades at approximately $110,804 in September. This follows a tumultuous trading session that occurred last Friday, characterized by disappointing Non-Farm Payroll (NFP) data and bearish candle formations that pointed towards potential corrections. Historically, September has proven to be a challenging month for Bitcoin, recording an average decline of 3.77%. As technical indicators hint at possible deeper corrections, understanding key support levels is essential for evaluating Bitcoin’s immediate direction.
Bitcoin kicked off September at around $108,253 and has managed to recover to its current price of $110,800 after experiencing volatility on Friday, where it peaked at $113,384 before settling at about $110,700. Notably, the formation of a bearish doji candle during Friday’s trading—marked by a lengthy upper wick and narrow body—may indicate a forthcoming sell-off and deeper correction.
Key developments from Friday’s session included:
– Opening price just below $111,000
– An intraday high crossing $113,000
– A sharp reversal following NFP data that showed only 22,000 jobs added compared to the anticipated 75,000
– A closing price at $110,700, below the opening figure
– A slight rise in unemployment, up to 4.3% from 4.2%
The bearish candle formation holds significance as it broke below a support zone established since early July, which was around $112,000—the historical high from May 2025. Consequently, Bitcoin is now testing this critical level from beneath, aligning with polarity conversion principles within technical analysis.
Looking ahead, expert analyses suggest a target correction zone between $100,000 and $104,000, which encompasses several key technical indicators such as the 200-day exponential moving average (EMA) and the 50% Fibonacci retracement level. This specific range represents an accumulation of support levels that could trigger buy orders.
Despite the potential for correction, many analysts remain optimistic about Bitcoin’s longer-term trajectory, viewing any dips as opportunities for accumulation rather than signaling an end to the upward trend.
Various analysts are providing predictions on potential bearish scenarios, estimating target ranges from $78,000 to $95,000. Peter Brandt, a noted technical analyst, points to a possible drop to $78,000 based on an identifiable head-and-shoulders pattern. Meanwhile, James Butterfill from CoinShares warns that regulatory disappointments could lead to a decline to $80,000. Crypto analyst MelikaTrader94 anticipates an imminent crash below $100,000, attributing this expectation to insufficient momentum and weak hands potentially exiting the market.
Historical data reveals that September has consistently been a difficult month for Bitcoin, with an average return of -3.77% since 2013. This tendency is frequently attributed to:
– Institutional portfolio rebalancing ahead of fiscal year-ends
– Tax loss harvesting aimed at maximizing yearly returns
– Reduced summer liquidity, which exaggerates market volatility
However, some analysts, like Rekt Fencer, argue that this September may not witness the usual downturn, drawing parallels to 2017 when Bitcoin rebounded robustly after suffering losses in August.
The recent NFP outcomes initially provided a boost to Bitcoin, as the market began pricing in higher probabilities for Federal Reserve rate cuts; however, the subsequent volatility led to a retraction of gains, highlighting the market’s turbulent and uncertain conditions.
Support levels have been outlined, including a “buy the dip” zone identified by InvestingHaven analysts between $78,000 to $82,000, which is expected to attract buyers if Bitcoin corrects to those levels. Changelly’s predictions conservatively place a minimum target at $108,802 with average forecasts suggesting around $119,470.
As for the immediate future, should Bitcoin break below the $105,000 support level, it could accelerate downward movements towards $95,000 or even $99,000. The psychological $100,000 mark remains significant, not only due to its status as a psychological barrier but also because it coincides with substantial technical indicators.
In summary, while Bitcoin faces potential corrections and significant challenges in September, many market watchers view any downturn as a natural part of its long-term growth potential, with many believing that a healthy correction could pave the way for future rallies.
