On July 31, Bitcoin showed signs of weakening momentum just as it stepped into August, a month notorious for poor performance in recent years. The TD Sequential indicator on Bitcoin’s three-day chart flashed a "9" sell signal, hinting that the recent rally toward $65,000 might be losing steam.
This technical alert came from market analyst Ali Martinez, who pointed out that Bitcoin’s price was hovering around $63,886 when the signal appeared below its recent peak. Traders often view this signal as a sign that a trend is about to reverse or pause.
Adding to the bearish outlook, August has been a historically weak month for Bitcoin. Since 2022, the cryptocurrency has posted losses every August: a 13.88% drop in 2022, 11.29% in 2023, 8.60% in 2024, and 6.49% in 2025. On average, these four Augusts saw Bitcoin slide about 10%, making it one of the toughest months for the asset.
Investors are now eyeing the $63,000 support level closely. If Bitcoin breaks below this mark, a deeper correction could unfold. However, strong market catalysts might still disrupt this bearish setup.
At press time, Bitcoin traded near $63,423, slightly up by 0.65% over the past day but still showing weakness on the weekly chart.
This content is for informational purposes and does not constitute financial advice.
