For October, Bitcoin’s monthly candle closed for the first time since December 2017 above $13,000.
According to Bitstamp’s chart, in December 2017 the candle closed at $13,880, and in October this year it closed at $13,816.
BTC/USD monthly chart from TradingView.
Over the past month, Bitcoin, despite such negative news as the CFTC’s lawsuit against BitMEX and withdrawal freezes of withdrawals on OKEx, rose about 30%.
This year ranks as the second-best month for the leading cryptocurrency after April, when the market was recovering from the March crash.
Traders often look at monthly candles to judge long-term and macro trends in the asset. A clear breakout of psychologically important levels, such as $13,000 for Bitcoin, typically signals a technical breakout to the upside.
As reported, on Saturday, October 31, the price of Bitcoin reached a fresh 2020 high above $14,000.
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