---
title: "Bitcoin price posting best September since 2016 as BTC sellers eye $27.5K"
url: https://diffcoin.com/bitcoin-price-posting-best-september-since-2016-as-btc-sellers-eye-27-5k/
description: "Bitcoin (BTC) bulls lost their grip on $27,000 into Sep. 30 as the monthly and quarterly close loomed large.BTC/USD 1-hour chart. Source:…"
published: 2023-09-30
updated: 2023-09-30
author: "Mila"
site: "Diffcoin"
---

# Bitcoin price posting best September since 2016 as BTC sellers eye $27.5K

Bitcoin (BTC) bulls lost their grip on $27,000 into Sep. 30 as the monthly and quarterly close loomed large.

*BTC/USD 1-hour chart. Source: TradingView*

## Bitcoin braces for three key candle closes

Data from Cointelegraph Markets Pro and TradingView tracked a cooling off for BTC price action ahead of the key September candle print.

The largest cryptocurrency remained up nearly 4% month-to-date, this marking its most successful September since 2016, per data from monitoring resource CoinGlass.

*BTC/USD monthly returns (screenshot). Source: CoinGlass*

Quarterly performance for Q3, conversely, showed BTC/USD down 11.5% at the time of writing.

*BTC/USD quarterly returns (screenshot). Source: CoinGlass*

For traders and analysts, everything could change in the final hours of the monthly candle.

“In the past, a green September resulted in a green October, November and December as well,” popular trader Jelle [noted](https://twitter.com/CryptoJelleNL/status/1708066562006032876) in part of the day’s X analysis.

> Will history repeat?”

The day prior, Jelle predicted better conditions for Q4, including a breakout past $30,000 for the first time since early August.

> After months of accumulating coins, and slowly preparing us for the bull market, I think its time.
> 
> Expecting Q4 to bring new strength — and a break of $30k.
> 
> Send it.[#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw) [pic.twitter.com/vkl0aq5hRS](https://t.co/vkl0aq5hRS)
> 
> — Jelle (@CryptoJelleNL) [September 29, 2023](https://twitter.com/CryptoJelleNL/status/1707662049306701957?ref_src=twsrc%5Etfw)

## “Textbook bearish technicals”

Monitoring resource Material Indicators meanwhile warned of what it called “textbook” bearish signals from multiple moving averages (MAs) across both longer and shorter timeframes.

***Related: Bitcoin halving to raise ‘efficient’ BTC mining costs to $30K***

Beyond the monthly and weekly close, the impending United States government shutdown should continue to suppress BTC price action unless a solution is found in time, it added.

> We are heading into the last [#trading](https://twitter.com/hashtag/trading?src=hash&ref_src=twsrc%5Etfw) day of the month with textbook bearish Technicals from the Key Moving Averages on Daily, Weekly and Monthly TFs and [#TrendPrecognition](https://twitter.com/hashtag/TrendPrecognition?src=hash&ref_src=twsrc%5Etfw) is flashing a new [#TradingSignals](https://twitter.com/hashtag/TradingSignals?src=hash&ref_src=twsrc%5Etfw) on the [#BTC](https://twitter.com/hashtag/BTC?src=hash&ref_src=twsrc%5Etfw) Daily chart as if it knows we have a looming U.S.… [pic.twitter.com/l9Mm2SHyFu](https://t.co/l9Mm2SHyFu)
> 
> — Material Indicators (@MI_Algos) [September 30, 2023](https://twitter.com/MI_Algos/status/1707940847919018090?ref_src=twsrc%5Etfw)

“There is a high probability that killer whales will be amping up the weekend whale games around Daily, Weekly, and Monthly candle closes. Don’t get lured into a trap,” part of [additional commentary](https://twitter.com/KAProductions/status/1707766709552087381) from Material Indicators co-founder Keith Alan read.

A snapshot of the BTC/USD order book on largest global exchange Binance showed bid liquidity congregating around $26,800. Sellers meanwhile lay in wait at $27,500.

*BTC/USD order book data for Binance. Source: Material Indicators/X*

Others, such as popular trader Daan Crypto Trades, expected less volatile conditions until immediately before the new week.

“We’ve had volatility last week but open interest has cooled down so I doubt we’ll get any strange price action until maybe later on Sunday,” he [told](https://twitter.com/DaanCrypto/status/1708034363231723618) X subscribers on the day.

An accompanying chart showed the CME Group Bitcoin futures opening and closing prices potentially acting as a magnet for BTC spot price — a common phenomenon.

*BTC/USD annotated chart. Source: Daan Crypto Trades/X*

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

[Source link](https://cointelegraph.com/news/bitcoin-price-best-september-since-2016)