{"id":12475,"date":"2023-07-01T22:20:03","date_gmt":"2023-07-01T22:20:03","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=12475"},"modified":"2023-07-01T22:20:04","modified_gmt":"2023-07-01T22:20:04","slug":"bitcoin-price-has-never-lost-more-than-10-in-july-is-2023-different","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=12475","title":{"rendered":"Bitcoin price has never lost more than 10% in July \u2014 Is 2023 different?"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) gained 12% in June, but one forecast sees the good times soon fading for bulls.<\/p>\n<p>In a tweet on July 1, popular trader CryptoBullet admitted that July might not offer much more BTC price upside.<\/p>\n<h2>Trader: BTC price rally \u201clikely\u201d ending this month<\/h2>\n<p>Despite a last-minute dive, thanks to a macro news event, Bitcoin managed to close out the month of June in a solid position.<\/p>\n<p>Data from Cointelegraph Markets Pro, TradingView and CoinGlass confirms that the monthly close came in at $30,465 on Bitstamp.<\/p>\n<p><em>BTC\/USD 1-hour chart. Source: TradingView<\/em><\/p>\n<p>Those levels continue to hold into the weekend, with the past month marking Bitcoin\u2019s best June performance since 2019.<\/p>\n<p>By historical standards, July looks even better; throughout its history, BTC price action has never lost more than 10% during the month.<\/p>\n<p><em>BTC\/USD monthly returns (screenshot). Source: CoinGlass<\/em><\/p>\n<p>For CryptoBullet, however, \u201ccommon sense\u201d dictates that BTC\/USD should fall below some key moving averages.<\/p>\n<p>\u201cSo, June surprised me. We got a pretty bullish monthly close: BTC tested the the MA50, bounced strongly and managed to regain the EMA21 !\u201d he commented on the monthly chart. <\/p>\n<p>\u201cI can repeat what I said: $BTC can go to 35k (to hunt liquidity), but this mid term bullish rally is coming to an end. Likely this month.\u201d<em>BTC\/USD annotated chart. Source: CryptoBullet\/Twitter<\/em><\/p>\n<p>The concept of liquidity hunting in the low $30,000 zone remains popular as a theory for price continuation.<\/p>\n<p>Among those tracking it is trading suite DecenTrader, which this week underscored the leveraged short positions stacked toward $35,000.<\/p>\n<p lang=\"en\" dir=\"ltr\">This ties in nicely with the massive chunk of #Bitcoin Liquidity, which is loaded all the way above $35k.<\/p>\n<p>If we see cascading short liquidations, wicking all the way up to the Moonraker resistance at $37k could be reasonable. https:\/\/t.co\/JR4J24Ak8H pic.twitter.com\/3CEJQ9bvOI<\/p>\n<p>\u2014 Decentrader (@decentrader) June 28, 2023<\/p>\n<h2>Battle of the monthly Bitcoin charts<\/h2>\n<p>Elsewhere, a broadly optimistic Rekt Capital was keen for what he called a \u201chealthy technical retest\u201d of levels below $30,000 for Bitcoin, despite the monthly close.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin speculators send 35K BTC to exchanges in new \u2018elation inflow\u2019<\/em><\/strong><\/p>\n<p>\u201cBTC has performed a bullish Monthly close but is primed for a healthy technical retest at ~$29250,\u201d he told Twitter followers on the day. <\/p>\n<p>\u201cWith price currently around $30500\u2026 I wonder what negative catalyst will soon emerge to facilitate this technical retest.\u201d<\/p>\n<p>Further analysis additionally argued that even if the BTC price were to snap below that downside target, it would constitute nothing \u201cout of the ordinary.\u201d<\/p>\n<p>\u201cWell positioned for upside overall,\u201d Rekt Capital added.<\/p>\n<p><em>BTC\/USD annotated chart. Source: Rekt Capital\/Twitter<\/em><\/p>\n<p><strong><em>Magazine: How smart people invest in dumb memecoins: 3-point plan for success<\/em><\/strong><\/p>\n<p class=\"post-content__disclaimer\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-never-lost-july-2023-different\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) gained 12% in June, but one forecast sees the good times soon fading for bulls. In a tweet on July 1, popular trader CryptoBullet admitted that July might not offer much more BTC price upside. Trader: BTC price rally \u201clikely\u201d ending this month Despite a last-minute dive, thanks to a macro news event, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12476,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-12475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12475"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12475\/revisions"}],"predecessor-version":[{"id":12477,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12475\/revisions\/12477"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/12476"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}