© Reuters. Adrian Zdunczyk Believes BTC Will Keep Up Successful Q4 Streak
- The Birb Nest founder first mentioned in his Tweet that Q4 has been a historically successful time of year for BTC.
- The short-term breadth for BTC is seeing an uptick.
- BTC is currently trading at $19,335.47 after a 1.13% drop in price.
The founder and CEO of The Birb Nest brand, Ardian Zdunczyk, shared his thoughts on Twitter (NYSE:) on October 1 about (BTC) and what could be in store for the crypto over the next quarter.
The Birb Nest founder first mentioned in his Tweet that Q4 has been a historically successful time of year for BTC and that it would be interesting to see if the crypto market leader could pull it off again.
Bitcoin’s Average Historical Returns By Month (Source: Twitter)
He also referred to some historical data to explain that investors could expect some good returns over the next two months, but he did mention that this is not guaranteed to happen.
Percentage of Crypto Assets Above Their 200 SMA (Source: The Birb Nest)
Another thing that could count in BTC’s favour for the upcoming festive season is the fact that there has been a slight uptick for the coins over their 200-day trends. This comes despite the fact that BTC is down more than 4% over the last month.
Percentage of Crypto Assets Above Their 50 SMA (Source: The Birb Nest)
On the other hand, the medium-term breadth shows unfavorable conditions to support any longer-lasting breakouts.
Luckily, the short-term breadth is seeing an uptick, which could be a move in the right direction for the short-term bulls.
Zdunczyk concluded his Tweet by stating that all the information above could be an indicator that Bitcoin (BTC) could see a bullish two months ahead. He did, however, mention that the current market conditions are not matching the bulls premises just yet. In addition to this, he added that traders should tread with caution over the next two weeks.
BTC is currently trading at $19,335.47 after a 1.13% drop in price over the last day.
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