According to the 10x study, Bitcoin ends in July, with the highest monthly candle of Bitcoin ending at more than $107,000.
Bitcoin’s last month was May, monthly candles closure It was about $104,600, followed by January, when the month closed around $102,450.
In the past three months, a continuous green candle has been seen for three consecutive months as assets recovered from their April decline to $75,000 assets.
These three record six-digit numbers Monthly candles The high point is already in 2025 Over $26,000 During this time after U.S. President Donald Trump won.
Rotating top candle pattern
Although June candles form a “rotating top” pattern, the record’s reflex is still lit up and has a small body and long upper and lower wicks.
This formation indicates that neither buyer nor seller gains control, which usually indicates a potential reversal of the price trend.
Related: Bitcoin “vertical acceleration” on desktop: Bitfinex
The last similar green spin monthly candle happened a year ago in July 2024, followed by a red “hammer” candle, with BTC dropping to $59,000 next month and a 8.6% drop in the next month.
The possibility of a July rally is high
Still, Markus Thielen, research director of 10x research, told Cointelegraph that historical analysis shows that the likelihood of Bitcoin’s 9% rally in July is high.
“This month has been strong for U.S. stocks and is expected to continue its upward momentum, and Bitcoin tends to follow.”
In 7 of the last 10 Julys, Bitcoin has reported positive returns, with an average return of about 9%.
“This seasonal trend sets a favorable context for potential higher action.”
Weekly candles are resisting the following
Analyst “Rekt Capital” looked at it Close the candles every week on Monday, observe It turned off the “ultimate main weekly resistance” with a resistance of $108,890. According to TradingView, weekly candles closed at $108,380 on Coinbase.
They added that “possible early lower high resistance” may develop at current price levels.
Analysts say Bitcoin will need to retract weekly resistance as daily support to invalidate this lower high.
Bitcoin price has fallen 2% in the past 24 hours, falling to $107,000 while writing. However, the asset has remained tightly connected at this level over the past week.
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