Bitcoin is set for a 3-month historic rally as analysts see $92K BTC.

After several months of bearish activity, Bitcoin may be poised for a three-month rally, with some analysts predicting a crash above $92,000.

Bitcoin price may be on the verge of a three-month rally based on historical post-halving chart patterns.

Bitcoin (BTC) recently retested a key support level on the weekly chart, which could set it up for a rally above $90,000, according to the famous titan of crypto.

In a September 13 X post, the analyst wrote:

“In previous cycles, the price went up at least 40% when it tested the 50-week moving average. On average, the bounce was 71%. #BTC could reach $92,000 if it completes 71% of this.”

Bitcoin bounced back above the $60,000 psychological mark on September 14, for the first time since August 30. Bitcoin's price has fallen in more than three months, falling more than 9% during that time, according to data from Bitstamp.

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Historical chart patterns suggest a three-month Bitcoin rally

September has historically been a month of poor performance for Bitcoin prices, with average returns of -4.69%, making it the weakest month based on average returns, according to CoinGlass data.

However, after the September crash, Bitcoin's price has historically risen for three consecutive months.

Bitcoin returned 22.9% in October, 46.8% in October – the second best month in history for Bitcoin prices – and 5.4% average monthly returns for December.

In Bitcoin's last half-year, 2020, the price rose more than 27 percent in October and more than 27 percent in November during the six-month rally that lasted until March 2021.

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Last Dip Buying Opportunity Before Bitcoin Crash?

This current correction may be the last buying opportunity before the next game, according to popular crypto trader Mags, who wrote in a September 15 X post:

“Bitcoin offers three opportunities to buy before it goes parabolic… the last one is after the halving. This may be your last chance to buy Bitcoin cheap before it goes parabolic.

Anonymous onchain analyst Checkmate also pointed out that Bitcoin is positioned the same way it was during the previous two bull cycles. In a September 14 X post, he wrote:

“Bitcoin is in the same position as the last two cycles since the low. I much prefer the cycle low comparison because it describes the psychological time it takes for investors to recover from a bear market.”

However, Bitcoin's “stress level” threatens more potential on the September low ahead of the next leg, which could be explored at the next Federal Reserve meeting on September 18.

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