Bitcoin Breaks $14K and Closes Over $13K For the 1st Time Since 2017

The monthly BTC price candle closed above $13K for the first time since 2017 when BTC hit an all-time high of nearly $20K. Big things to come for the King of Crypto!

Bitcoin monthly candle closes above $13K for the first time since 2017

“The monthly candle of Bitcoin (BTC) for October has closed above $13,000 for the first time since December 2017. It comes after both daily and weekly candles all closed above the crucial resistance level.

Traders often use the monthly log chart to evaluate the long-term and macro trend of an asset. On a monthly chart, each candle represents a whole month of trading activity. As such, a Bitcoin monthly log chart typically covers many years of trading activity.

The monthly chart is considered to be one of the main high time frame charts alongside the weekly chart. A clear breakout above an important level, like $13,000, on the monthly chart, indicates a technical breakout.”


Master Asked on November 1, 2020 in Bitcoin.
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