Bitcoin

Bitcoin Is Tipped To Gain From Another Green July For The S&P 500

Key points:

  • Bitcoin is based on winning as the S&P 500 begins per month which has been green in the last decade.

  • The maximum losses of July for BTC / USD are currently less than 10%.

  • The low price action at the beginning of the month is nothing to fear, suggest traders.

Bitcoin (BTC) merchants are waiting for one of his most efficient months, even though July begins in the red.

The latest BTC price forecasts see US BTC / USD copy markets to take advantage of new gains in the coming month.

Bitcoin traders see the BTC prices monitoring actions

Bitcoin should end with firmly bullish July, because historical data promote solid yields of risk networks over the next 30 days.

As Trader Mikybull Crypto noted, the seventh month of the year turned out to be a success for American actions, the S&P 500 seeing consecutive July 10 months of July.

July was even more lucrative than May and June, which only ended “red” for the S&P 500 once or twice since 2015.

For BTC / USD, the image is rather more mixed. Coinglass resource monitoring data shows that May and June have experienced major price performance variations, while July has been better, with maximum losses less than 10%.

“Bitcoin at the forefront of the burst and likely to correspond to the S&P for New Aths in July,” his colleague Crypto Fella told X this weekend.

BTC / USD monthly returns (screenshot). Source: Coringlass

Double at the top and double bottom for Bitcoin

Despite optimism, BTC / USD began in July in a dull style, falling to the bottom of one month up to date of less than $ 106,500 at the time of the editorial staff.

In relation: Save Q2, then monthly fence? 5 things to know in Bitcoin this week

Corceglass has confirmed an auction band in place from $ 106,200, with short films above $ 108,000 still intact.

BTC / USDT liquidation Heatmap. Source: Coringlass

Commenting on the current configuration, Trader Daan Crypto Trades was among people unperturbed by the absence of new attacks against heights of all time.

“Always consolidate in this current range and this channel,” he wrote on X.

“With a new month and a new quarter, we often see a restless start after which Price chooses a direction later. Give him time to play and monitor confirmations. ”

BTC / USDT 4 hours. Source: Daan Crypto Trades / X

The trader, a merchant and commentator, Tardigrade, saw the potential for re -evaluation of additional support before the higher resolution.

“Bitcoin has formed a double and a double background model in the consolidation range from $ 101,000 to $ 109,000,” he noted alongside the 3-day BTC / USD graphic.

“The internal support / resistance could be tested again before breaking a range of $ 109,000.”

BTC / USD 3 days. Source: TRADER Tardigrade / X

This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.