Bitcoin (BTC<\/a>) swiftly climbed above $20,000 after the Sept. 30 Wall Street open as end-of-month volatility began.\u00a0<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a>\u00a0showed BTC\/USD gaining 3% in a single hourly candle to hit local highs of $20,171 on Bitstamp.<\/p>\n The move followed predictions from traders, who were looking for slightly higher levels to precede a fresh downside move<\/a>.<\/p>\n \u201cMoving my stop to my entry now at 19.3k but letting it ride first to 21.7k where I think there\u2019s some major resistance,\u201d popular trader Pentoshi wrote<\/a> in part of a fresh Twitter update about his trading plans.<\/p>\n \u201cLooks like strength to me,\u201d trading account IncomeSharks continued<\/a>.<\/p>\n \u201cGreat way to finish the week off after seeing people switch back to being bearish every other day depending on the candle color.\u201d<\/p><\/blockquote>\n Fellow trader Cheds called<\/a> $20,000 a \u201cpivot,\u201d focusing attention on the psychologically significant level. Cheds previously flagged declining U.S. dollar strength \u2014 a classic catalyst for risk-asset performance.\u00a0<\/p>\n The downturn in the U.S. dollar index continued on the day, approaching 112 points after meeting resistance during a rebound.<\/p>\n A further macro catalyst came in the form of United States\u00a0Personal Consumption Expenditures Price Index data, which came in hotter than expected, increasing pressure on the Federal Reserve.<\/p>\n In Europe, record Consumer Price Index readings brought shock for some, with highlights including the Netherlands\u2019 17.1% year-on-year increase.<\/p>\n Meanwhile, with hours to go until the September monthly candle close, eyes were firmly on whether bulls could stay the course.<\/p>\n Related:\u00a0Bitcoin profitability for long-term holders declines to 4-year low: Data<\/a><\/em><\/strong><\/p>\n Whether BTC\/USD would finish the month up or down versus the start remained open to interpretation, as did the fate of monthly support. <\/p>\n At publication time, the pair was 0.35% higher than on Sept. 1 \u2014 still enough to post its first \u201cgreen\u201d September since 2016, data from Coinglass<\/a> confirmed.<\/p>\n Looking ahead, analyst William Clemente reiterated<\/a> that statistically, Q4 was a solid period of returns<\/a> for hodlers.<\/p>\n \u201cHistorically Q4 has been Bitcoin\u2019s best performance by far, with an average quarterly return of +103.9%,\u201d he tweeted. <\/p>\n \u201cOctober and November have been its best performing individual months with avg returns of 24% and 58%. Does seasonality matter? Let\u2019s see.”<\/p><\/blockquote>\n Coinglass data likewise showed that for Q3, BTC\/USD was currently at 0.92%.<\/p>\n The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<\/div>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-09\/e63074f5-934d-4a4a-889e-91ff1a20008f.png\")
Bitcoin volatility back for monthly close<\/h2>\n
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The fate of September\u2019s candle hangs in the balance<\/h2>\n
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