Bitcoin gained 12% in June, but one forecast sees the good times soon fading for bulls.
In a tweet on July 1, popular trader CryptoBullet admitted that July might not offer much more BTC price upside.
Trader: BTC price rally “likely” ending this month
Despite a last-minute dive, thanks to a macro news event, Bitcoin managed to close out the month of June in a solid position.
Data from Cointelegraph Markets Pro, TradingView and CoinGlass confirms that the monthly close came in at $30,465 on Bitstamp.
BTC/USD 1-hour chart. Source: TradingView
Those levels continue to hold into the weekend, with the past month marking Bitcoin’s best June performance since 2019.
By historical standards, July looks even better; throughout its history, BTC price action has never lost more than 10% during the month.
For CryptoBullet, however, “common sense” dictates that BTC/USD should fall below some key moving averages.
“So, June surprised me. We got a pretty bullish monthly close: BTC tested the the MA50, bounced strongly and managed to regain the EMA21 !” he commented on the monthly chart.
