BTCUSDT Analysis by @PlanB_Bitcoin

The speaker observes that Bitcoin closed September at $63,000, marking the eighth consecutive month it has traded in a $60,000 to $70,000 range. Normally, bull markets are associated with prices that trend upward, but this has not been the case for Bitcoin as of now. The speaker points out how in the past the bull market phases have included a steady price increase, but this cycle has seen the price rise then trade sideways for many months. The analysis suggests that the current 'sideways bull market' is unusual. One possibility being a premature pump before the halving due to the ETF releases. The video points out how a new all time high was reached before the halving date, something that was never seen before. This sideways movement between 60 and 70k is a consequence of a too fast pump from around 20k. The analyst notes that the next halving is in 2024, and he assumes there will be another leg up after a period of consolidation. A reasonable target can be inferred above the last high at around 80000 and the analysis would fail below 50000