At $76,500 for BTC, would you still dare to add to your position?
First, on the surface: Bitcoin violently surged from $62,000 to $81,000 in August, gaining 25%, and has now pulled back to around $76,500.
Bitcoin has just experienced one of its strongest months since 2026 began—spot ETFs saw $350 million in monthly net inflows, $1.4 billion in short positions were liquidated, and Strategy spent $920 million buying coins. Price remains above the 50/100/200-day EMAs, with the medium-term structure leaning bullish. After rising too much, it needs a rest—but it is not dying.
First: What happened in August? Institutions FOMO-bought aggressively
Bitcoin in August can be described in just four words: a short squeeze.
The U.S. Treasury expanded buybacks of long-term bonds, which the market interpreted as disguised easing
After a two-month hiatus, Strategy bought 4,603 BTC again, bringing its holdings to 845,000 BTC
Spot ETFs saw $350 million in monthly net inflows, with AUM approaching $100 billion
Short positions worth $1.4 billion were liquidated, pushing Bitcoin straight to $81,000
Many people were still waiting for a “second bottom” at $62,000 in early August, but the train left without them.
Second: September was only one day old, and the wind had already changed
On September 1, spot ETFs saw $236.5 million in net outflows ($201.2 million flowed out of IBIT), ending an 11-day streak of inflows.
U.S.-Iran tensions pushed oil prices above $90, stoking inflation concerns
The U.S. 10-year Treasury yield surged to 4.81%, its highest level since January 2025
Japan’s 10-year government bond yield broke above 3% for the first time since 1996
The probability of a 25-basis-point FOMC rate hike on September 15–16 rose to 67–70%
Fed Chair Warsh’s Jackson Hole speech was hawkish
The macro narrative switched overnight from “the easing narrative” to “rising rate-hike expectations.”
Third: What are the candlesticks saying? Key levels have arrived
On the daily chart: Price remains above the EMA50/100/200 ($69,300–$72,400), and the medium-term structure remains bullish. However, RSI has fallen from overbought territory to 62, MACD is showing signs of a bearish crossover, and the recent decline from $81,500 has formed a “lower high.”
On the 4-hour chart: The EMA50 at around $77,500 has turned into resistance, and price is currently testing the $76,400–$76,800 support zone. If it holds, the rebound target is $77,700–$77,800; if $76,000 breaks, watch $75,000–$74,000.
Above: $77,700–$77,800 → $79,000–$80,000 → $81,500 (a breakout = trend recovery)
Below: $76,500–$76,400 (the current dividing line) → $76,000 → $75,000–$74,000
Bulls and bears are battling it out—make your own call
On one side:
August ETF net inflows of $350 million; the institutional bull-market logic remains intact
Strategy’s 845,000 BTC holdings, acquired at a cost of $8.1 billion; the long-term holder structure remains healthy
Price remains above all medium-term moving averages
From a halving-cycle perspective, the current 39% pullback is shallower than in historical cycles
On the other side:
The first ETF outflows of $236 million in September show that the short-term trend has changed
Rising rate-hike expectations + bond selling + higher oil prices: a triple macro blow
September has historically been BTC’s weakest month (Rektember)
The 4-hour EMA at $77,500 has turned into resistance, and the rebound is weak
What should you do next?
Short term:
Hold $76,500 + rebound and reclaim $77,800 → cautiously test longs with a small position, target $79,000–$80,000, stop-loss at $76,200
Break below $76,000 → turn bearish, targeting $75,000–$74,000 or even $73,500
Medium term:
After a 25% gain in August, Bitcoin needs time to consolidate. $76,000–$75,000 is a good accumulation zone (enter in batches)
Only a break above $81,500 will confirm that the trend has restarted
Bitcoin is now standing at a crossroads—
On one side is the institutional call for $100,000 before year-end; on the other are new highs in bond yields and rising rate-hike expectations.
The conclusion is straightforward: In the short term, Bitcoin is more likely to dip first and take off afterward.
At $76,500, are you adding to your position or reducing it?
Remember: Bull markets see many sharp drops, while bear markets see many sharp rallies.
More painful than missing the rally is being fully invested during a pullback. Opportunities always go to those with dry powder.
Did you miss this August move? Would you dare to add at $76,500?
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