The price of Bitcoin (BTC) in recent weeks has had a remarkable bounce and run from its low of $19,000, with many calling for a bull run. BTC’s price soon faced resistance and was rejected from the $25,200 mark as it formed a bearish rising wedge. The price of BTC broke out from the rising wedge, and BTC has struggled to hold off sell-off ahead of its daily (1D), weekly (1W), and monthly (1M) trilemma close. (Data from Binance)
BTC Price Analysis On The Monthly Chart
Monthly BTC Price Chart | Source: BTCUSDT On Tradingview.com
From the chart, the price of BTC saw a bullish sentiment in July, with August looking bullish in its early week.
After seeing a monthly low of $18,000 with what seems to be a high demand area, the price of BTC bounced and rallied to a monthly close of $ ..
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