There’s an old saying that history doesn’t keep repeating itself, but it does tend to rhyme. If this is the case for Bitcoin (BTC), there may not be a sharp move higher in September.

Bybit data shows that Bitcoin has closed September in the red for six years since 2013 and only hit positive monthly closings twice. The best performance was in 2016 when Bitcoin rose 6.04%.

Daily performance of the cryptocurrency market. Source: Coin360

However, the poor historical performance in September didn’t stop small and large traders from amassing Bitcoin in August. Ecoinometrics reported rising account balances for addresses with 1,000-10,000 BTC and for accounts with less than one bitcoin.

Will the cops be scared off by September’s bad historical record, or will this year be an exception? Let’s analyze the top 10 cryptocurrency charts to find out.

BTC / USDT

The bulls again failed to push the price above the overhead resistance of $ 50,000 on August 29, suggesting the bears are aggressively defending the level. Bitcoin formed a doji candlestick pattern on Aug 29, which has resolved to the downside today.

BTC / USDT daily chart. Source: TradingView

The failure of the relative strength index (RSI) to climb back into the symmetrical triangle indicates weakness. If bears pull the price below the 200-day simple moving average ($ 46,065), the BTC / USDT pair could fall to the nearest support at $ 42,451.67.

This level should serve as strong support. If the price rebounds from these levels, the pair can stay in a range between $ 42,451.67 and $ 50,500 for a few days.

A break and close below $ 42,451.67 signals the beginning of a deeper correction. The pair could then correct to $ 36,670.

This negative view will be invalidated if the price starts from the current level and breaks above $ 50,500. Such a move could open the gates for a rally to $ 60,000.

ETH / USDT

Ether (ETH) fell again from the overhead resistance zone at $ 3,335 to $ 3,377.89 on August 29. This suggests that the bears are aggressively defending the overhead zone.

ETH / USDT daily chart. Source: TradingView

The bulls have not given up, however, and are defending the 20-day exponential moving average ($ 3,139) as evidenced by today’s strong rebound. If the bulls push the price above the overhead zone, the ETH / USDT pair could continue its bullish move with a target of $ 3,670 then $ 4,000.

On the flip side, if bears pull the price below the 20-day EMA, the ETH / USDT pair could fall to the breakout level at $ 3,000. A rebound from this level could hold the pair in a range between $ 3,000 and $ 3,377.89 for a few more days.

A deeper correction could begin if the bears pull and hold the price below the $ 3,000 breakout level. This could cause a fall to the 200-day SMA ($ 2,389).

ADA / USDT

Cardano (ADA) moved down from $ 2.95 on Aug 28, suggesting the bears are aggressively defending overhead resistance at $ 2.97. This was followed by a doji candlestick pattern on Aug 29, indicating indecision between bulls and bears.

ADA / USDT daily chart. Source: TradingView

Uncertainty has widened today with the formation of the inside-day candlestick pattern. If sellers let the ADA / USDT pair dip below the August 29 intraday low at $ 2.71, the pair could fall back to the breakout level at $ 2.47. A strong rebound from these levels could hold the pair in a range between $ 2.47 and $ 2.97 for a few days.

While the rising 20-day EMA ($ 2.44) may suggest an advantage to buyers, the negative divergence on the RSI suggests the momentum is easing. A breakout and close below $ 2.47 indicates the beginning of a deeper correction. The pair can then drop to $ 2.20.

The bulls need to push and hold the price above the psychological level of $ 3 to signal the resumption of the uptrend.

BNB / USDT

The bulls’ failure to get Binance Coin (BNB) above the 19 intraday high. The altcoin has declined and could now fall to the breakout level at $ 433.

BNB / USDT daily chart. Source: TradingView

The bulls are likely to aggressively defend the support zone between the 20-day EMA ($ 445) and the breakout level at $ 433. A strong rebound out of this zone will suggest sentiment remain positive and bulls will buy on dips.

A breakout and close above USD 520 signals the resumption of the uptrend. The BNB / USDT pair could then rise to $ 600. Conversely, the pair could fall to the 200-day SMA ($ 368) if bears push the price below $ 433.

XRP / USDT

XRP rebounded from the USD 1.07 support on August 27, but the bulls were unable to push the price onto the downtrend line. This suggests that demand is drying up at higher levels. The bears are currently trying to lower the price to the critical support at $ 1.07.

XRP / USDT daily chart. Source: TradingView

The price action of the past few days has formed a descending triangle pattern that completes on a breakout and closes below $ 1.05. This setup has a target target of $ 0.75. The flattening 20-day EMA (1.10) and the RSI near the middle suggest that the bulls are losing their hold.

Conversely, if price bounces off the USD 1.05 support and breaks above the downtrend line, the bearish set-up will be undone. Failure of a bearish pattern is a bullish sign. The pair could then begin its rally to $ 1.35, followed by a surge to $ 1.66.

DOGE / USDT

Dogecoin (DOGE) rose above the overhead resistance at $ 0.29 on August 27, but the bulls were unable to hold the higher levels. The price fell back below $ 0.29 on August 28.

DOGE / USDT daily chart. Source: TradingView

The bears will now seek to break the price below the immediate support at $ 0.26. If they succeed, the DOGE / USDT pair could fall to the critical support at $ 0.21.

The flat 20-day EMA ($ 0.28) and the RSI near the middle suggest a balance between supply and demand.

This equilibrium will shift in favor of the bulls if they can push and hold the price above the downtrend line. The pair could then rise to $ 0.35 and later to $ 0.45.

SOL / USDT

Solana (SOL) is on a strong uptrend. The move up stopped on August 29, but the long tail on the day’s candlestick showed that the bulls bought on drops. Buyers have pushed the price to a new all-time high again today.

SOL / USDT daily chart. Source: TradingView

If the bulls keep the price above $ 100, the SOL / USDT pair could begin its journey towards the next target at $ 122.09. While momentum is strong, the RSI above 83 suggests the rally is overheating in the short term.

The first sign of weakness will be a breakout and a close below $ 90. This suggests that traders are aggressively posting profits. The pair could then correct to the 20-day EMA (USD 72) which is likely to act as strong support. A break and a close below this support signal a possible turnaround.

DOT / USDT

The uptrend line in Polkadot (DOT) acts as resistance. Attempts by the bulls to push the price back above this line failed on August 27th and 28th, suggesting traders may close their positions on rallies.

DOT / USDT daily chart. Source: TradingView

If bears pull price below the 20-day EMA ($ 24.48), the DOT / USDT pair could see further selling. The pair could then fall to the strong support at $ 18. Such a move will suggest that the pair could extend their range action for a few days.

The gradually flattening 20-day EMA and the RSI just above the middle suggest that the bulls are losing their hold. To get the upper hand, the bulls will need to push and hold the price above $ 28.60. This will complete a V-bottom pattern that has a target at $ 46.83.

Related: This service declares that it is again the “crypto-old season”

UNI / USDT

Uniswap (UNI) bounced off the $ 25 support on August 27 and rose above the moving averages, but the bulls were unable to hold the higher levels. This suggests that the bears have not given up and are selling on rallies.

UNI / USDT daily chart. Source: TradingView

The price has fallen back below the moving averages today and sellers will now try to pull the price below the $ 25 support. In this case, the UNI / USDT pair will complete a small descending triangle pattern. This bearish setup has a target target of $ 18.74.

Alternatively, if price bounces off the $ 25 support and breaks above the downtrend line, the bearish setup will be invalidated. The pair could then climb to $ 30. The bulls need to push and hold the price above this resistance to signal the start of a new uptrend.

MOON / USDT

Terra Protocol’s LUNA rebounded to a new all-time high on August 29, but traders took advantage of the surge to post profits. The price moved lower today but rebounded significantly from $ 32, suggesting that the bulls had flipped previous resistance into support.

LUNA / USDT daily chart. Source: TradingView

Buyers will now try to push the price above the all-time high of $ 36.89. If they do that, the LUNA / USDT pair could begin its journey to the next destination at $ 43 and later at $ 50.

Contrary to this assumption, the bears will attempt to lower the pair to the 20-day EMA ($ 27.23) if the price drops again from $ 36.89.

A strong rebound from this support will suggest sentiment remains positive and traders buy on dips. The bulls will then try again to continue the upward move. The bears will need to pull and hold below the 20-day EMA to weaken bullish momentum.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph. Every investment and trading movement carries risks. You should do your own research when making a decision.

Market data is provided by HitBTC Exchange.

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