Bitcoin prints the highest level in eight months, but history serves as a warning
Bitcoin touched around US$85,400, the highest level in eight months. This move is interesting because September is historically known as a relatively weak month for BTC, so this rally is different from the seasonal pattern traders usually watch.
Data since 2019 shows that after 19 September, most periods end with Bitcoin at lower levels into the end of the month. However, the sample size is limited and seasonality is not a guarantee that the pattern will repeat.
For traders, price momentum remains strong, but this historical data could be a reason not to ignore risk management.
Follow Menjadi Trader for more market updates.
NFA, DYOR.
#Bitcoin #BTC #crypto #trading #menjaditrader $BTC
Bitcoin touched around US$85,400, the highest level in eight months. This move is interesting because September is historically known as a relatively weak month for BTC, so this rally is different from the seasonal pattern traders usually watch.
Data since 2019 shows that after 19 September, most periods end with Bitcoin at lower levels into the end of the month. However, the sample size is limited and seasonality is not a guarantee that the pattern will repeat.
For traders, price momentum remains strong, but this historical data could be a reason not to ignore risk management.
Follow Menjadi Trader for more market updates.
NFA, DYOR.
#Bitcoin #BTC #crypto #trading #menjaditrader $BTC
