Again as predicted, $BTC last month, September, candle eventually closed in green despite many people believing September would be a red month due to its history.
If the alternating monthly candle between green and red pattern is still valid, we should expect this month, October, to close in red candle.
This is the 7th month bitcoin price has been following the alternating green and red monthly candle pattern which I pointed out some months ago and brought my followers attention to. If you have been following and taking advantage of this pattern by shorting every red month and longing every green month using at least 10 to 20x leverage, you would have made at least 200 to 400% return per month by now with zero to little risk of liquidation!
Now, the question is, will bitcoin price follow this pattern this month of October or it will eventually breakout of the pattern this time? Time will tell!
With the current market situation, there's a high probability that October will be a red month since last month was a green month further solidifying the likelihood of this pattern to continue this month.
If you believe this pattern will repeat again and October is going to be a red month for bitcoin, then this is the best time to short bitcoin for potential profit, but do anticipate a price retrace and wait for confirmation before you rush into trade.
What do you think? Do you think we will break out of this alternating green and red monthly candle pattern this month or the pattern will still hold? Let me know what you think in the comment section!
