Just 1 more day until we see the highest Monthly Close in Bitcoin's history

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Unless bitcoin drops by more than $4k in 24 hours we are about to set a new record

There is something very important to happen from a technical perspective.

Bitcoin is about to have its highest monthly close ever.

This may not sound like that big of a deal but to funds that invest in terms of years or decades, the monthly charts matter.

And bitcoin is about to make a new all time high close on the month chart:

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(Source: https://twitter.com/MacroCRG/status/1333098323549548546/photo/1)

Unless it somehow drops by more than $4k within the next 24 hours, which I guess is possible for bitcoin, though not likely.

This break and close on the monthly chart signals a breakout to long term investors and will likely have them piling on upon confirmation.

I don't expect it to push the price immediately higher after it closes, but over the coming weeks and months I think this is extremely bullish for the price.

People like to talk about bitcoin never going below $10k again, but based on this chart I would say it's possibly bitcoin never goes below $13k again, possibly even $14k.

Just like that the world has changed for bitcoin.

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4 comments
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Passing over $18k once again shows that the bull run is not over yet and we might see some rush uptrend soon. With it the entire cryptocurrency might come to life and create opportunities for anyone to take on a profit. Now which should be the levels to do so, anyone can appreciate for itself but in my book taking a profit when the price is less than 20% of all time high is a good exit.

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I agree. I think bitcoin holding above $18k means it's ready for a run at all time highs very shortly.

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People like to talk about bitcoin never going below $10k again, but based on this chart I would say it's possibly bitcoin never goes below $13k again, possibly even $14k.

I subscribe to that. Next year BTC will get to mind blowing levels and I doubt that it will ever correct to under $10,000 or even $15,000. The game has changed a lot in the past years. There will for sure be corrections, but not to those levels.

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