Bitcoin Monthly Chart. Source: TradingView
Bitcoin continues to show its resilience in a world of crisis. After a sharp drop in March, BTC came back strong and closed above $9300 resistance for the first time since June 2019. This is a great sign for bulls and as long as Bitcoin remains above $9300 level, the market should remain in bullish territory.
The current global macro situation is helping Bitcoin as more and more investors are seeking it as store-of-value. Unlike the past rallies, the recent move is majorly spot driven. Retail investors are piling up to move a small percentage of their portfolio into this digital gold.
This monthly breakout is very significant and could be the start of a fresh rally with 10,500 as the first target and a continuation towards 11,700.
