Crypto analyst Jelle has drawn attention to a historical trend indicating a potential bullish run for Bitcoin in February 2024.

The revelation offers welcome relief for BTC investors grappling with Bitcoin’s trend in 2024 so far.

The trader expressed optimism, stating that “February should be strong” for Bitcoin “if history keeps repeating itself.”

Looks like #Bitcoin continues the pattern we've been monitoring since September.

4 months in the green, one in the red.

If history keeps repeating, February should be strong. pic.twitter.com/fWbXw4rlvK

— Jelle (@CryptoJelleNL) January 23, 2024

The historical pattern involves February exhibiting positive performance for BTC following a bearish January.  It seems to occur after BTC had four successive months of gains, followed by a setback.

Bitcoin’s Potential Surge to $53,000 in February

Analysis from Coinglass further confirms this pattern. In 2016 and 2017, when BTC concluded the last four months of the year on a positive note, January was bearish, and February became bullish again.

Last year, BTC closed September, October, November, and December in the green, largely fueled by the excitement surrounding Spot Bitcoin ETFs.

Considering this historical precedent, the trader anticipates another positive month for BTC in February. In 2016 and 2017, BTC witnessed significant gains of 20% and 23% in February, respectively. 

In another X post, he observed Bitcoin’s resurgence above the $42,000 level and hinted at further upward movement. This seemingly affirms that the “bull market stays on.” Even so, technical analysis is not an exact science.

#Bitcoin made stellar progress over the weekend, reclaiming $42,000 and making it back into the range.

Time to focus on longs once again. Bull market stays on! pic.twitter.com/T7fgmsVIGs

— Jelle (@CryptoJelleNL) January 29, 2024

Per Jelle, the next noteworthy Bitcoin surge could propel its value as high as $53,000. 

Intriguingly, the accompanying chart indicated a likelihood of this occurrence in February, reinforcing the historical pattern outlined earlier. If this materializes, it would underscore the predictive accuracy of the historical trend he has emphasized.

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