CANDLES - This is an undeniably bullish chart at first glance. The support and resistance have been thoroughly covered in previous 4-hour and 1-day chart analyses. One significant point to note is that Bitcoin has been bouncing within this range since January 2024. The consolidation and accumulation in this range over the past few months are setting the stage for a robust, upward surge. The current month's bullish hammer is a reassuring sight, further confirming the bullish indicators on Bitcoin's 1-month chart.
RIBBONS - Green and fanning out, can't ask for much better.
RSI - Is curving up into overbought territory, so we can't ask for much better.
MACD - The previous month printed light green, and something to take note of is that this month is printing a BIGGER light green and now has the potential to flip into dark green. This is pretty bullish.
INSTITUTIONAL VOLUME - Red bars (Institutions/Whales) at 98%. Yellow bars (Traders) 2%. Green bars (Retail) 0%. WHAT MORE CAN YOU ASK FOR.
SUMMARY - After analyzing the 4-Hour, 1-Day, and 1-Week (which I did yesterday), the 1-Month chart has provided significant insights. It's been a while since all four timeframes have looked this bullish at the same time. The potential for a strong close this month or a wick and subsequent drop is a key consideration. If the convention is a sell-the-news event, we can expect the bottom wick to be filled. If its not, then we end the month with a beautiful bullish hammer and potenitally strong August. By A