The fallout from China'southward ongoing crackdown on the crypto sector has led to uncertainty finding its style dorsum into the market again. At the time of writing, Bitcoin (BTC) traders continue to encounter pushback at the $43,000 level and many altcoins that had accumulated gains in the morning session are also dipping into the ruddy.

Information from Cointelegraph Markets Pro and TradingView shows that an early morning attempt by bulls to push the cost of BTC above $44,000 was met by firm resistance just the current dorsum and along appears to be nothing more than consolidation.

BTC/USDT 4-hour chart. Source: TradingView

Hither's a await at what crypto traders and analysts are saying almost the contempo price moves for Bitcoin and what to be on the lookout for every bit the marketplace closes out the month of September.

Bitcoin needs to reclaim support at $43,600

A bearish alarm has appeared on the weekly Bitcoin chart, according to cryptocurrency analyst and pseudonymous Twitter user Rekt Majuscule, who posted the following Tweet showing that the toll of BTC closed below a major demand area.

As suggested in the tweet, if Bitcoin fails to climb higher, then the $43,000 back up level could flip into the new resistance level every bit bulls crouch down to defend against a relief rally.

Co-ordinate to the trader, Bitcoin bulls need to reclaim support at $43,600 for the bullish uptrend to continue, otherwise, the bearish narrative could take hold.

Confirmed cost reversal

A more bullish take on the current price setup for Bitcoin was offered by options trader and pseudonymous Twitter user John Wick, who posted the following chart outlining the current four-hour setup for BTC.

BTC/USD 4-hour nautical chart. Source: Twitter

According to Wick, the recent action has confirmed the bottom in the BTC price likewise as a price reversal, signaling that this may be an opportune time to open up a long position.

Wick said,

"I have half my long swing position on this setup. I will add the other half when/if we intermission resistance (Yellowish line)."

Related: Bitcoin breaking new highs in Q4 will 'temporarily turn alts to dust' — Annotator

On-chain data points to heavy accumulation

While the recent price action for BTC has been volatile and resulted in widespread fear and defoliation, on-chain information indicates that veteran traders are long-term bullish because they continue to accumulate every bit much Bitcoin as the marketplace tin can supply

As seen in the above tweet from the Bitcoin Archive, the supply of Bitcoin held on exchanges has fallen for the majority of the past two years as holders go along to buy on the marketplace and withdraw to their privately controlled wallets.

This indicates that the market remains in a period of accumulation and as the Bitcoin Archive stated. This tendency shows no signs of slowing in the near future and could put positive force per unit area on the toll of BTC equally its circulating supply shrinks.

The overall cryptocurrency marketplace cap now stands at $one.919 trillion and Bitcoin's potency charge per unit is 42.4%.

The views and opinions expressed here are solely those of the writer and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading movement involves hazard, you should acquit your ain research when making a decision.