According to 10x Research, BitCoin could be set for a 9 % rally in July as it ended the month of June with its most monthly candle with more than $ 107,000.
Bitcoin’s last month was May, with a monthly candle closure close to $ 104,600, followed by January, when it closed about $ 102,450 a month.
In the last three months, green candles have also been seen as the asset was recovered from the dip to $ 75,000 in April.
The three record six figures were the monthly candle height in 2025, and the next nearby November 2024 was when it was over $ 26,000 at 000 96,500 during the period after US President Donald Trump’s election victory.
Wandering the sample above the candle
Despite the record near June, despite the formation of a “spinning top” pattern with a small body and a long and lower part.
This formation shows that neither buyers nor the seller gain control, often indicating the potential reversal in the price trend.
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The last similar green spinning top monthly candle was about a year ago in July 2024, and the next month the red “hammer” was reduced to 8.6 % when the BTC reduced 000 59,000.
The high probability of the July rally
Nevertheless, the head of 10x research, Marcus Thalen, told the Quintil Graf that the historic analysis shows a 9 % rally for Bitcoin in July.
“This month has been strongly strong for American equality, which is expected to continue its pace, and BitCoin follow it.”
In seven of the last 10 July, BitCoin has published a positive profit, with the average benefit 9 %, he added, adding that with negative performance, even in a few years, the decline was “modest” and remained in single digits.
“This seasonal trend determines a favorable background for a possible step.”
Weekly candle below resistance
Analyst “Rich Capital” took a look at the weekly candle on Monday, observed that it closed under the “last big weekly resistance”, which was at 108,890. According to the trading view, the weekly candle was closed at the base, 108,380.
He added that at the current price level, “potentially low resistance to the initial stage” may be developed.
Bitcoin will need to repeat weekly resistance as a daily support to invalidate this lower high, analyst said.
Bitcoin prices have declined by 2 % over the past 24 hours, which has fallen below $ 107,000 at the time of writing. However, the asset has been firmly bound at this level since last week.
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