Bitcoin Could Rocket if It Closes Its Monthly Candle Above This Key Level
Bitcoin is currently consolidating within the lower-$13,000 region as bulls move to control its near-term price action. It has been struggling to break above $13,200 ever since it was rejected at this price level a few days ago. This currently marks the crypto’s 2020 high, and the selling pressure here is quite significant. If broken […]
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The monthly Bitcoin price candle closed above $13,000 for the first time since 2017 when BTC hit an all-time high of nearly $20,000. The monthly candle of Bitcoin (BTC) for October has closed above $13,000 for the first time since December 2017. It comes after both daily and weekly candles all closed above the crucial resistance level.Traders often use the monthly log chart to evaluate the long-term and macro trend of an asset. On a monthly chart, each candle represents a whole month of trading activity. As such, a Bitcoin monthly log chart typically covers many years of trading....
Fresh losses are contained only after $2,000 gets wiped from the BTC spot price, with a recovery yet to make an appearance. Bitcoin (BTC) hit new weekly lows into Sep. 28 as risk asset drawdown continued overnight.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTrader: "First new lows" before Q4 recoveryData from Cointelegraph Markets Pro and TradingView showed BTC/USD falling to $18,461 on Bitstamp, down almost $2,000 versus the previous day’s high. The change of direction came in lock step with stocks, which turned red after initially heading marginally higher at the Wall....
Bitcoin price is showing resilience above the $15K level and history suggests a broader rally may occur in December. Historically, when a Bitcoin monthly candle closes above previous candles the digital asset has seen a prolonged rally. Atop this high time frame pattern, Bitcoin’s monthly candle in September closed above $13,000 for the first time since 2017. Furthermore, the dominant cryptocurrency has shown signs of a clear breakout throughout the past two months.BTC/USD monthly chart. Source: TradingView.comWhy Bitcoin may be at the cusp of a new rallyIn terms of the 'BTC rally'....
Today, June 30 marks the last day of the month, and after around 8PM ET the Bitcoin monthly candle will come to a close. This monthly candle isn’t anywhere as damaging as this past May, which historically was one of the worst on record. However, there’s no denying that this month was also still fairly […]
Bitcoin has now had 7 consecutive daily green candle closes this month. There have been a couple of 7 consecutive daily candle closes. But so far there has been no eight. The last time there were 8 consecutive daily candle closes, bitcoin price saw a price run-up that saw the price moving out of the $20,000 price range into the $30,000. BTC price movements after 8 consecutive daily candlesticks | Source: Twitter The chart above outlines the movement of the market the last time this happened. The run-up had started last year in 2020 and continued into 2021 before tapering off in....