Bitcoin · Decrypt
What a 'Bart Simpson' Pattern Would Actually Take
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Bitcoin gained close to 25% in August, ripping from about $64,420 on August 19 to nearly $80,700 by August 25.
Key facts
- Bitcoin gained close to 25% in August, ripping from about $64,420 on August 19 to nearly $80,700 by August 25
- The CME FedWatch tool currently prices a 64% chance the Fed hikes rates at its September 15-16 meeting
- Bitcoin has closed eight of the last 13 Septembers in the red since 2013, averaging a 2.97% loss
- Spot Bitcoin ETFs shed roughly $236 million on Tuesday alone, and oil has climbed into the low $90s a barrel after fresh U.S.-Iran strikes near the Strait of Hormuz, adding inflation pressure
Summary
Bitcoin is consolidating near $77,500 after spiking from roughly $64,420 to nearly $80,700 in six trading days last week, the move traders are calling a "Bart Simpson" setup. The four-hour chart's own indicators show a stalling market, not the violent breakdown a completed Bart Simpson pattern requires. Analysts have flagged $75,800 as the level that would confirm the bearish setup; a slower, weeks-long slide toward $62,000 along a descending trendline is the more realistic alternative to an actual flash crash. That shape—sharp spike, flat top, partial giveback—is why crypto traders keep typing the words "Bart Simpson" into their group chats.