Bitcoin (BTC) is approaching its best third quarter ever, with data showing that there is only one day left until the third quarter of 2020.

According to Skew Analytics’ price records throughout the chain, the strongest third-quarter bitcoin is set to arrive this year.

BTC Premium Challenges End of Q2 2019
At the time of release on September 30, BTC / USD was trading at around $ 10,680. That number easily surpasses the immediate proximity of all other recorded third quarters, with the second highest number last year at $ 8,310.

Additionally, Bitcoin could close its second best end-of-life quarter – but that depends on whether it can stay above $ 10,590 in Q2 2019.

Skew commented, “There is one day left and it still looks like the second best quarter next to Bitcoin, but that’s close to Q2 2020.”

Bitcoin completed a $ 1,000 trade after losing momentum after hitting $ 12,500 in August. Opinions are mixed in the short term, and there are still concerns that BTC / USD could fall further to fill the remaining CME futures gap of $ 9,600.

“This is a restricted area structure with an upper resistance range of $ 10,800,” said Michael Van de Pope, analyst at Cointelegraph Markets, on Tuesday.

If the BTC / USD pair fails to break through resistance, he said, it is highly likely that lower support levels will be tested, especially $ 10,600, with entry potential of $ 10,400 and $ 10,200.

Bulls end up in power
However, when you zoom out, the image is more clearly in favor of the bulls. Long-term behavioral patterns remain relevant for Bitcoin, as reported by Cointelegraph, and there is no difference this week.

Compound Bar Pressure, an indicator designed to identify suitable entry points for BTC / USD, has left the green “buy” low for the first time since March.

Networking fundamentals also talk about overall strength, with difficulty on its own at a constant high and set for a new renewal of about 3% after three days.

Hash rate, which is a measure of the processing power intended for mining, also tends to be at a constant level.

However, there is still debate among traders about possible short-term downturns, including falling below the $ 9,000 CME gap.

Source: CoinTelegraph

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