Bitcoin sets record monthly close at $107K as analyst tips 9% rally

Bitcoin could beryllium acceptable for a 9% rally successful July arsenic it ended the period of June connected a precocious with its highest monthly candle astatine conscionable implicit $107,000, according to 10X Research.

Bitcoin’s erstwhile highest period was May, with a monthly candle closure astir $104,600, followed by January, erstwhile it closed the period astatine astir $102,450. 

The past 3 months person besides seen consecutive greenish candles arsenic the plus recovered from its April dip to $75,000. 

All 3 grounds six-figure monthly candle highs person been successful 2025, and the adjacent nearest was successful November 2024 erstwhile it closed astatine astir $96,500, clocking more than $26,000 successful gains implicit the play aft US President Donald Trump’s predetermination win. 

BTC/USD 1 month. Source: Tradingview 

Spinning apical candle pattern 

The grounds adjacent comes contempt June’s candle forming a “spinning top” signifier with a tiny assemblage and agelong precocious and little wicks. 

This enactment suggests that neither buyers nor sellers gained control, often signaling a imaginable reversal successful the terms trend.

Related: Bitcoin ‘vertical acceleration’ disconnected the array for now: Bitfinex

The past akin greenish spinning apical monthly candle occurred astir a twelvemonth agone successful July 2024, and was followed by a reddish “hammer” candle and a diminution of 8.6% the pursuing period erstwhile BTC dropped to $59,000. 

High probability of July rally

Despite this, 10x Research’s caput of research, Markus Thielen, told Cointelegraph that humanities investigation suggests a precocious probability of a 9% rally for Bitcoin successful July. 

“The period has consistently been beardown for US equities, which are expected to proceed their upward momentum, and Bitcoin tends to travel suit.”

In 7 of the past 10 Julys, Bitcoin has posted affirmative returns, with the mean summation astir 9%, helium said earlier adding that adjacent successful the fewer years with antagonistic performance, the declines were “modest” and stayed successful azygous digits.

“This seasonal inclination sets a favorable backdrop for a imaginable determination higher.”

Weekly candle beneath resistance 

Analyst “Rekt Capital” took a look astatine the weekly candle close connected Monday, observing that it closed beneath the “final large play resistance,” which was astatine $108,890. The play candle closed astatine $108,380 connected Coinbase, according to TradingView. 

They added that a “possible early-stage little precocious resistance” whitethorn beryllium processing astatine existent terms levels. 

Bitcoin volition request to reclaim the play absorption arsenic enactment connected the regular to invalidate this little high, the expert said. 

Potential early-stage little precocious absorption forming (blue). Source Rekt Capital

Bitcoin prices person dipped 2% implicit the past 24 hours, falling to conscionable beneath $107,000 astatine the clip of writing. However, the plus has remained tightly rangebound astatine this level for the past week. 

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