Bitcoin Weakness Tracking Seasonality. September Bullseye Buy Again?

After many years as a crypto and Bitcoin skeptic I teamed up last year with Adrian Zduńczyk, CMT @crypto_birb to study Bitcoin seasonal patterns and trends. Our “Seasonality of Bitcoin” white paper came out September 26, the day of the average annual seasonal low. With $BTC continuing to track its seasonal pattern I would not be surprised if the original cryptocurrency settled into another textbook September seasonal low buy point this year as well

Last year BTC’s September low was a bullseye buy. Bitcoin nearly tripled from the September low of about 25,000 to the high this March just shy of 74,000. Take a look at your favorite technical chart and you can see how BTC has struggled to break above this 70K resistance level, which is only slightly higher than the old November 2021 highs.

So don’t be alarmed by recent weakness and volatility. This is just the usual historical seasonality when stocks and BTC drift sideways, chop, flop and suffer normal pullbacks until they tend to find support in late-summer or early-autumn.