In July, Bitcoin can be set for a 9% rally because according to 10X research, it finished over $ 107,000 with its highest monthly candle.
The last highest month of bitcoin was May, with a monthly candle Close About $ 104,600, followed by January, when it closed the month at around $ 102,450.
The last three months have also witnessed green candles continuously as the property has been recovered from April Dip to $ 75,000.
All three records six-acada monthly candle had a height in 2025, and the next was in November 2024, when it closed at $ 96,500 for more than $ 26,000 in this period after US President Donald Trump’s election victory.
Spinning top candle pattern
Regarding the record close comes despite the candle of June, despite creating a “spinning top” pattern with a small body and long upper and lower Wicks.
This formation suggests that neither buyers nor sellers gained control, often indicated a possible reversal in the price trend.
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In July 2024, about a year ago, the last equal green spinning top monthly candle was held, and then a red “hammer” candle and a decline of 8.6% next month when BTC fell to $ 59,000.
High probability of July rally
Despite this, the head of the research of 10X research, Marcus Thielen, told the coinalgraph that the historic analysis suggests the high probability of the 9% rally for bitcoin in July.
“This month has been strong for American equity, which is expected to continue their upper speed, and follow bitcoin suits.”
In seven of the last 10 Julis, Bitcoin has posted positive returns, about 9%with average gains, he said that even with negative performances in a few years, the fall was “modest” and remained in single digits.
“This seasonal trend determines a favorable background for a possible step.”
Weekly candle under resistance
Analyst “Racket Capital” took a look at the weekly candle on Monday, Overview It closed under the “final major weekly resistance”, which was $ 108,890. According to the tradingview, the weekly candle on the coinbase closed at $ 108,380.
He said that “possible initial phase low high resistance” may develop at current price levels.
The analyst stated that bitcoin would need to be reinforced as support on daily to reject this lower high.
Bitcoin prices have taken 2% dip in the last 24 hours, which has come down to $ 107,000 at the time of writing. However, the property remains tightly at this stage for the last week.
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