RATE Group | Bitcoin’s First Monthly Gain Since June Spells Bullish for Q4 2019
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Bitcoin’s First Monthly Gain Since June Spells Bullish for Q4 2019

02 Nov Bitcoin’s First Monthly Gain Since June Spells Bullish for Q4 2019

Posted at 08:43h in Bitcoin News by

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Bitcoin price (BTC) closed out October at $9,150, which represents the first monthly gain since June.  October also brought new lows of $7,300, which was met with a memorable swing of around 40% back up to highs of $10,350.  

So far, Friday has brought a small gain to Bitcoin price of around 0.39%, but down over the previous 24 hours by 1.61% with the retrace also being seen among the other major coins. 

Cryptocurrency market daily view. Source: Coin360

Monthly Bitcoin price chart

The Bitcoin chart clearly shows that BTC has been selling off since making highs of almost $14,000 back in June.  

BTC USD Monthly chart. Source: TradingView

The price lows $7,000s in October represented a 61.8% retracement of the entire 2019 move and the first green candle in 4 months. Overall, Bitcoin has not made a new monthly price high and price would need to trade across October highs of $10,350 to show bulls are stepping back in. 

Weekly Bitcoin price chart

BTC USD weekly chart. Source:…

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