is it bottom? (upd)
time to update my previously idea 
The price of Bitcoin has followed path B and has been moving sideways for some time. Partly, this was due to very weak data from the U.S. labor market. A few months ago, bulls were anticipating this weakness, but now they are afraid because it has started to smell like a recession. Mr. Powell already announced on August 23 that "the time has come," and now monetary policy will be eased. There is a consensus in the market that the rate will be lowered in September, although many are expecting an immediate reduction of 50 bp. I agree with the opinion that there will be a 25 bp reduction, as a 50 bp cut would be an acknowledgment by the Federal Reserve that they erred by delaying the start of the reduction and could cause additional panic among investors. I don't think it could happen 1.5 months before the elections.
Also, additional reasons for growth are stock market buybacks in September/October and payments from FTX of about $16 billion in October.
So yes, I'm sure that the bottom has already been passed and it's only up from here
The price of Bitcoin has followed path B and has been moving sideways for some time. Partly, this was due to very weak data from the U.S. labor market. A few months ago, bulls were anticipating this weakness, but now they are afraid because it has started to smell like a recession. Mr. Powell already announced on August 23 that "the time has come," and now monetary policy will be eased. There is a consensus in the market that the rate will be lowered in September, although many are expecting an immediate reduction of 50 bp. I agree with the opinion that there will be a 25 bp reduction, as a 50 bp cut would be an acknowledgment by the Federal Reserve that they erred by delaying the start of the reduction and could cause additional panic among investors. I don't think it could happen 1.5 months before the elections.
Also, additional reasons for growth are stock market buybacks in September/October and payments from FTX of about $16 billion in October.
So yes, I'm sure that the bottom has already been passed and it's only up from here
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.