Bitcoin's Consecutive Monthly Gains Echo 2012 Bull Run Setup
Bitcoin has experienced consecutive monthly gains in July, August, and September, reminiscent of a similar streak in 2012. During that year's bull run, October saw a 9.7% drop before prices accelerated.
This rare occurrence has piqued the interest of analysts tracking seasonal patterns. The BTC price currently trades above both its EMA50 support at $80,983.59 and EMA200 at $76,337.19, suggesting a potential retracement towards the 50-EMA before any further upward movement.
The 4h chart shows Bitcoin trading within the Bollinger Bands with an upper resistance of $87,951.04. The Relative Strength Index (RSI) is in overbought territory at 76.2, and the Moving Average Convergence Divergence (MACD) has registered a bullish golden cross at 1913.93.