Bitcoin closed June at a record high, signaling potential for further growth.
Record Close in June
According to 10X Research, Bitcoin closed the month of June with the highest monthly candle at just over $107,000. The previous record was set in May with a close around $104,600.
Candlestick Pattern and Its Significance
The month's close formed a 'spinning top' pattern with a small body and long upper and lower wicks, indicating neither buyers nor sellers gained control, often signaling a potential price reversal.
July Forecasts and Market Situation
Markus Thielen, head of research at 10X Research, stated that historically July has been a strong month for Bitcoin, with positive returns in 7 of the past 10 years, averaging around a 9% gain. 'This seasonal trend sets a favorable backdrop for potential upward movement,' the analyst added.
In summary, Bitcoin's positive momentum and record values suggest a potential for further growth in July.
