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Bitcoin’s July Monthly Candle Close

Written By: ChartChamp

July 31, 2024

The monthly candle has closed as we enter August tomorrow. Overall I think Bitcoin had a pretty good month considering everyone thought Bitcoin would drop to $40k. Bitcoin is continuing to trade within the bull flag, but there has not been a bullish breakout yet. For now the price action is neutral between $54k and $70k until Bitcoin finds a direction. I would not be surprised if Bitcoin retests $58.5k in August. I also wouldn’t be surprised to see a bullish breakout in August. We’ll see how things are looking tomorrow. For now Bitcoin had a rejection at the upper range of the bull flag and is trending down.

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