Bitcoin's monthly chart is indicating a potential shift in market structure, with long-term data suggesting a possible upward trend. Analyst Lennaert Snyder noted that 97.7% of Bitcoin's monthly highs and lows form within the first 15 days, implying the recent low may hold for the rest of the month. Additionally, 80.7% of months see a new high after the 17th day, pointing to potential upward momentum. The market is also witnessing a subtle behavioral shift as Bitcoin deviates from its established pattern for the first time in seven months. This deviation, highlighted by trader Killa, suggests increased directional volatility, although it does not alter the overall market trend. As the Federal Open Market Committee meeting approaches, institutional players are positioning themselves, with the recent CPI data leaving room for the FOMC decision to be a significant market inflection point.
Bitcoin Monthly Chart Signals Potential Market Shift
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