Bitcoin investors are optimistic for a bullish October.
BTC closed September in a classic bullish setup.
October is a typically bullish month for Bitcoin.
Despite closing the month of September with a 3% daily decline, Bitcoin investors remain optimistic that the new month will deliver significant gains for the cryptocurrency. True to their expectations, the flagship crypto has started October with a rally, surging over 1.7% in the early hours of Tuesday.
The investors’ expectations stem from Bitcoin’s historical behavior, knowing how the leading crypto has repeatedly recorded notable gains in the 10th month of the year. Since 2013, Bitcoin has ended October higher than it began, except for only two years, 2014 and 2018.
Read also : Bitcoin and Equities Defy September Slump with Strong Q3 Performance
Unlike previous years, when Bitcoin often declined in September, this year shows stronger bullish momentum. TradingView’s Bitcoin monthly chart reflects a classic bullish setup from November.
Bitcoin recovered from a five-month pullback after reaching a $73,794 all-time high in March, forming a monthly rejection candle last August. Technical analys…
The post Bitcoin’s October Promise: Historical Gains Fuel Optimism appeared first on Coin Edition.
