BTC monthly line will close in 2 days!
From the perspective of K-line pattern alone, the July monthly line is quite violent, and the long lower shadow seems to confirm that there is sufficient buying below the 5-month oscillation range;
It is worth noting that although the monthly lines of May and July are both positive lines, if you look closely, you will find that their highs and lows are in a slightly declining state, that is, LL and LH;
Although the monthly lines of April and June are negative lines, the high and low points of the K-line are in a convergent form;
This seems to indicate that the market in September is likely to be a convergent negative line;
That is, although it has fallen, there is no new low, which just corresponds to the "descending expansion wedge" of the current long-term bullish trend of the entire oscillation range;
We will not speculate on what this monthly line will look like, but my personal opinion is that this rhythm of convergence-new low-positive closing is likely to end after September.
On the one hand, August and September are historically the months when BTC performs poorly, as shown in the figure below:
Under the average monthly increase over the years, only August and September have an average decline, which may also explain why the whales that have been continuously buying or buying a lot at the bottom began a small wave of selling near the end of the month;
If you are a spot holder or a firm bull, then it may be a good choice to wait patiently for lower prices and re-buy in the next two months.
Don't forget that after the painful period of August-September, October-November is the highest average monthly increase in history
Follow Brother Tian (stick to the top of the circle and get rich together)
