According to the text, Bitcoin (BTC) set another monthly low on Sept. 8 as analysis warned of the dangers of losing $54,000. The popular analyst Caleb Franzen suggested that BTC/USD was now on the cusp of a more significant downtrend, with the 200-day simple (SMA) and exponential (EMA) moving averages forming a 'cloud' that could signal a 'stark' trend shift.

The text mentions that ahead of the week's key United States unemployment data release, Bitcoin looked precarious as bulls failed to halt a slow bleed toward the six-month lows seen on Aug. 5. Prominent crypto figure Arthur Hayes was reported to see sub-$50K BTC price as a possibility, indicating a bearish outlook for the cryptocurrency.

The article suggests that BTC price targets are increasingly looking for a rematch with last month's lows, as Bitcoin chartists highlight formidable resistance levels that the cryptocurrency may struggle to overcome. This could signal a potential for further downside in the near-term as the market assesses the implications of the technical analysis.

Source: https://cointelegraph.com/news/arthur-hayes-sub-50k-btc-price-bitcoin-risks-trend-shift

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