Market recap during the month of September, which is called Sadtember

Hello, all Steemit friends!

How are you? May you always be given good health and good fortune.

I've been on hiatus for a long time on this platform, and I personally apologize to all my friends if anyone is waiting for follow-up content from my previous content.

In this article, I will not discuss serial technical content on the market.

However, I will evaluate market movements in the last month.

Let's just review it!

Bitcoin's movement in general is currently at a corrective level in its resistance area.

I use a weekly timeframe to see the overall movement.

I also saw that in the daily movement there had been a change in the price direction of the market structure.

This indicates that after the price was in the resistance level area, the weekly time frame immediately reacted and made price changes.

As a result, overall the resistance is very strong to be broken, and Bitcoin still has a big chance of being corrected again.

If you pay attention, a head-and-shoulder pattern is formed in the price movement of Bitcoin on the Dayli timeframe.

This is also a strong indication that the influence of negative movements in September will most likely continue in October.

Market movements are actually influenced by incoming market capitalization.

By looking at this data, we can find out whether the market is positive or tends to move negatively.

In the image above, we can see that the overall crypto market capitalization in the last few months has not moved impulsively.

This data is also reinforced by the movement of bitcoin, which is still stuck in the key-level resistance area.

The very significant strengthening of the dollar index in the last few months has resulted in weakness in almost all commodity sectors, as well as the crypto market.

With a lot of fundamentally positive sentiment, this, of course, strengthens the influence of the dollar index.

As a result, we see that the price of imported goods will feel more expensive, and this will also have a weakening impact on commodity and crypto prices.

The superiority of the dollar index is good news if we want to accumulate save-the-world assets such as gold.

However, it will be less good for volatile assets such as the crypto market.

I tend to choose to trade derivatives based on current market conditions.

From the data that I see on the market, I still have a bearish view on market movements.

I highly recommend that you be careful when trading, especially spot market trading. because the price could fall again.