Bitcoin price has never lost more than 10% in July — Is 2023 different?
Battle of the regular monthly Bitcoin chartsElsewhere, a broadly optimistic Rekt Capital was eager for what he called a “healthy technical retest” of levels below $30,000 for Bitcoin, despite the regular monthly close.Related: Bitcoin speculators send out 35K BTC to exchanges in brand-new elation inflow”BTC has actually carried out a bullish Monthly close but is primed for a healthy technical retest at ~$29250,” he informed Twitter followers on the day. “With price presently around $30500 … I question what unfavorable catalyst will quickly emerge to facilitate this technical retest.”Further analysis in addition argued that even if the BTC price were to snap listed below that drawback target, it would constitute absolutely nothing “out of the regular.””Well positioned for upside general,” Rekt Capital added.BTC/ USD annotated chart. Source: Rekt Capital/TwitterMagazine: How clever people buy dumb memecoins: 3-point prepare for successThis post does not include financial investment recommendations or suggestions. Every financial investment and trading move includes danger, and readers need to conduct their own research when making a decision.
Bitcoin (BTC) gained 12% in June, however one projection sees the good times soon fading for bulls.In a tweet on July 1, popular trader CryptoBullet confessed that July might not use much more BTC cost upside.Trader: BTC price rally “most likely” ending this monthDespite a last-minute dive, thanks to a macro news occasion, Bitcoin handled to liquidate the month of June in a solid position.Data from Cointelegraph Markets Pro, TradingView and CoinGlass validates that the month-to-month close was available in at $30,465 on Bitstamp.BTC/ USD 1-hour chart. Source: TradingViewThose levels continue to hold into the weekend, with the previous month marking Bitcoins finest June efficiency because 2019. By historic standards, July looks even much better; throughout its history, BTC cost action has never lost more than 10% throughout the month.BTC/ USD monthly returns (screenshot). Source: CoinGlassFor CryptoBullet, however, “good sense” dictates that BTC/USD needs to fall listed below some key moving averages.” So, June surprised me. We got a pretty bullish month-to-month close: BTC checked the MA50, bounced highly and handled to restore the EMA21!” he discussed the regular monthly chart. “I can duplicate what I said: $BTC can go to 35k (to hunt liquidity), but this mid term bullish rally is pertaining to an end. Likely this month.” BTC/USD annotated chart. Source: CryptoBullet/TwitterThe principle of liquidity searching in the low $30,000 zone stays popular as a theory for rate continuation.Among those tracking it is trading suite DecenTrader, which today underscored the leveraged brief positions stacked toward $35,000. This ties in well with the massive portion of #Bitcoin Liquidity, which is packed all the method above $35k. Wicking all the way up to the Moonraker resistance at $37k could be sensible if we see cascading short liquidations. https://t.co/JR4J24Ak8H pic.twitter.com/3CEJQ9bvOI— Decentrader (@decentrader) June 28, 2023
Bitcoin (BTC) acquired 12% in June, however one projection sees the excellent times soon fading for bulls.In a tweet on July 1, popular trader CryptoBullet confessed that July might not provide much more BTC price upside.Trader: BTC rate rally “likely” ending this monthDespite a last-minute dive, thanks to a macro news event, Bitcoin managed to close out the month of June in a strong position.Data from Cointelegraph Markets Pro, TradingView and CoinGlass verifies that the month-to-month close came in at $30,465 on Bitstamp.BTC/ USD 1-hour chart. By historical standards, July looks even much better; throughout its history, BTC cost action has actually never ever lost more than 10% during the month.BTC/ USD monthly returns (screenshot). Battle of the monthly Bitcoin chartsElsewhere, a broadly positive Rekt Capital was keen for what he called a “healthy technical retest” of levels below $30,000 for Bitcoin, in spite of the regular monthly close.Related: Bitcoin speculators send 35K BTC to exchanges in new elation inflow”BTC has carried out a bullish Monthly close but is primed for a healthy technical retest at ~$29250,” he informed Twitter followers on the day.