Bitcoin Expected to Remain Stagnant Until October, Analyst Warns

Crypto analyst Josh Olszewicz stated that Bitcoin is unlikely to see significant movement until October, citing current market conditions as unfavorable. He advised investors to refrain from trading until a more attractive risk-reward scenario develops, likely not before Q4.

Market Assessment

Last week's Bollinger Band squeeze indicated potential volatility but resolved downward due to weak US jobs data and negative ETF flows.
Bitcoin's ETF flows have turned negative, contrasting with Ethereum's positive inflows.
Q3 is historically slow for both equities and crypto, particularly in August and September.
Technically, Bitcoin stalled around $122,000, with the next significant level at $150,000 if broken.
A bearish TK cross on the Ichimoku Cloud could trigger sell signals, raising concerns about further price declines.
COT data shows a drop in institutional long positions, indicating bearish sentiment.
Historical trends suggest possible recovery in October despite recent challenges.
Potential re-entry zone for traders identified between $117K–$120K if Bitcoin can reclaim this range soon.

Olszewicz emphasized patience and caution in the current market environment, advising investors to stay liquid and observe developments in October. At press time, Bitcoin traded at $114,517.

Bitcoin price