Analysis: Bitcoin or the first monthly monthly decline since January

On July 31, Bitstamp data showed that Bitcoin is expected to end its five-month rally, and the current bitcoin price is down 9.3% from the opening price of $10,759 this month. In the 4 hours chart, the volume is still sluggish, and the BTC in the next few hours may be difficult to break through the key resistance level of $10,235. Despite this month's decline, the long-term chart remains bullish. However, Bitcoin closed above $11,120 in UTC time to boost short-term bullish prospects. Onion found that in the past five months, Bitcoin rose by 11%, 8%, 28%, 62% and 25.89%, respectively, which is the longest monthly consecutive increase since August 2017. Before the BTC rose for five consecutive months, it also recorded a six-month losing streak. As of now, the 9.3% decline is the largest monthly decline since November 2018. However, there are still more than 10 hours from the close, and it is impossible to rule out the possibility that the price suddenly rises to the monthly opening price of $10,759.