$BTC Went down sharply straight from the monthly candle open and set a local low on the 1st of December for the time being.

This would be in line with those first few days of the month often going in one direction, setting the low or high, and then proceeding to trend in the other direction. Usually this happens around day 3-6 so this one would a bit quicker. But it's not too rare, 82.6% of months make that first pivot (Initial low/high) later than this.

All in all, a very volatile start of the month, but nothing we've never seen before.

The main thing this month has shown us yet again, is that if you see a move straight from the new monthly candle, without a wick or anything, it is often a very weak high/low and gets retested and taken out relatively soon after.

So next time you see a monthly candle start off really weak or strong, it might be worth it to watch closely for low timeframe reversal signals and expect that open to be retested in the future.