As the $13,000 mark is left shattered yet again, all eyes now point to the monthly close of Bitcoin. The all-time high for the top cryptocurrency, in 2019, was recorded at the close of June when the price tapped out just above the $13,800 mark.
Now, with the market stabilizing around $13,000, BTC dominance soaring to levels not seen for a long time, and the altcoins firmly in a rut, expectations, and hopes will be on the king coin closing out July with bullish momentum.
Josh Rager, a prominent cryptocurrency analyst, and digital asset advisor for Token Bacon and Level Invest voiced this sustaining-bullish sentiment. In his recent tweet, Rager stated that the “bullishness,” cannot be ‘denied,’ if Bitcoin closes above the monthly ATH.
According to the monthly chart of Bitcoin, the previous monthly ATH chart, based on closing prices stood at $13,863 recorded in December 2017. It should be noted here that the all-time daily close for Bitcoin was pegged close to $20,000 in the middle of the aforementioned month, but correction shaved over $6,000, closing out the month at $13,863.
He added that if this monthly close does materialize, based on price history, there is no “resistance overhead,” with the “only support,” remaining. Hence, Bitcoin could use this as a foundation and break the all-time daily price high of $20,000.
The monthly close is still a few weeks away but you can’t deny the bullishness if Bitcoin can close above the previous ATH close at $13,863
On high-time frames it will be clear skies with no price history resistance overhead, only support
Countdown to July 31st pic.twitter.com/E1OI6mnZMV
— Josh Rager ???? (@Josh_Rager) July 10, 2019
As Bitcoin is on the verge of a massive breakout if this price level sustains, technical indicators are on the up and up. Recently, Bitcoin saw its price push above the Vera Band higher price limit which, according to Bloomberg, indicates upwards and downwards trends.
The third coming of this indicator was seen on July 7, following two previous stints in February and June. The Bloomberg report added that a breakout of this indicator will result in a “fresh high…shortly afterward.”