Bitcoin (BTC) looked set to equal its lowest monthly close since 2020 on Aug. 28 as bulls failed to take control.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewOdds stack up for a deeper dive below $20,00
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD criss-crossing $20,000 with hours until the weekly candle completed.
The pair had been unable to make up for lost ground over the weekend, and just days from the end of the month, even $20,000 appeared vulnerable as support.
At the time of writing, Bitcoin traded near $19,900 — below June’s closing price.
BTC/USD 1-month candle chart (Bitstamp). Source: TradingView“It didn't matter what kind of lines or squiggles you had on your charts,” on-chain monitoring resource Material Indicators summarized over the weekend alongside bid and ask data from the Binance order book.