RATE Group | Bitcoin Monthly Candle to Close Around $9,300: Bullish or Bearish?
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Bitcoin Monthly Candle to Close Around $9,300: Bullish or Bearish?

31 Oct Bitcoin Monthly Candle to Close Around $9,300: Bullish or Bearish?

Posted at 21:57h in Bitcoin News by

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In the next few hours, Bitcoin will see its monthly candle for October close. As the cryptocurrency has been subject to immense volatility over recent weeks, this close will be immensely important for Bitcoin’s directionality for the next few months.

Related Reading: Bitcoin Holds Above $9,000 as Buyers Look to Extend Its Upwards Momentum

So, with BTC seemingly poised to close October around $9,300, what are analysts saying?

Bitcoin Looking Relatively Strong

Stackin’ Bits posted the chart below recently, with the attached caption “yin/yang.” According to the chart, BTC remains above the red pivot line at around $8,700, presumably implying that it is still in the “yin” range, or bullish.

Crypto HornHairs echoed this seeming sentiment. He noted that there is a confluence of signs that imply Bitcoin is closing October bullish. This confluence is centered around the idea that BTC remains…

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