September/October Monthly Analysis:
September started a little weak but ended strong as I predicted in my previous post. We saw the strongest September Bitcoin has ever recorded. This is not a Slumptember, but Bitcoinâs best September performance in the history of crypto and this sets us up nicely for an Uptober.
BTC started September at around $57,800 and ended the month at $63,800, almost a 10% gain. As we begin October, BTC is well positioned to add to its September gains before the US Presidential Elections start next month.
BTC is currently in a falling channel on the monthly chart as seen in the second chart below. The cryptocurrency is at the upper boundary of that channel and should break out of that channel, signaling a trend reversal and a move towards a new ATH this month. This is going to be an interesting âUptoberâ and we should get confirmation of the start of the long awaited bull run this month.
