What Does Bitcoin’s Monthly Close Tell Us About Future Prices?

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In Brief
  • Bitcoin has reached its highest monthly close since August 2019.

  • The BTC price is possibly following a long-term descending resistance line.

  • The leading cryptocurrency is facing short-term resistance at $9600.

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The Bitcoin (BTC) price reached a close of $9448 for the month of May, which was the highest close since August 2019. However, the price is still facing considerable diagonal resistance and horizontal resistances in the weekly time-frame. The Bitcoin price increase for the entire month of May was relatively subdued, measuring 9.5 percent. However, it was the highest close in over seven
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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