BTC's Last Chance: July's Monthly Close Could Boost August Outlook

Bitcoin has less than 11 hours to finish July's monthly candle on a high note, according to traders watching its movements closely. A close above June's CRT range could strengthen Bitcoin's bullish outlook heading into August, under the Monthly Candle Range Theory.

The asset is currently trading at $63,640, down 1.96% over the past 24 hours and 2.1% over the week, but up 8.8% for the month. While August has historically been a seasonally weak period for Bitcoin, a strong July close could challenge this trend.

Traders are watching whether BTC can finish above June's key support range, which would bolster crypto market sentiment and adoption. A close inside June's CRT range would strengthen Bitcoin's bullish outlook heading into August under the Monthly Candle Range Theory.