Bitcoin (CRYPTO: BTC) has kicked off October on a bullish note with a surge above $117,000, prompting traders to outline strategies for the month amid ongoing macro volatility.
What Happened: Crypto trader Astronomer highlighted in a detailed X post that he correctly predicted September's green close, demonstrating that weak "monthly stats" like a supposedly bearish September are unreliable.
Looking at October, he noted:
- Historical context: 11 of the last 15 Octobers (~73%) closed green. Adding the condition that September closed green raises the probability to 85%, surpassing the 80% confidence threshold.
- Bull market plan: Called the bottom in late August, aligning with Hash Ribbon signals, 2017 patterns, and other proprietary analysis.
- Altcoins & Ethereum (CRYPTO: ETH): With BTC dominance peaking at 65% and top 30 altcoins holding above prior lows, a hidden acceleration phase is in play.
- 10-week signal: A recent signal for Bitcoin upside began, with the previous one producing +23% BTC gains and +35% in altcoins, reinforcing the bullish thesis.
Also Read: Bitcoin Hits $116,000 As Ethereum, XRP, Dogecoin Rally On Weak Dollar
Why It Matters: Astronomer added that October closing green fits the plan. He recommends traders could act simply by buying below October's open and selling at the close or take a more nuanced approach with proper backing.
Astronomer's own Bitcoin long already hit the first target, and the next level is likely above $118,000, with compounding limits removed. The emphasis remains on profit over simply being right.
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