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On the monthly timeframe, three red candles can be seen, which reflect the continuous decline in the bitcoin price since April. The cryptocurrency has fallen in price by more than 56% in three months. Next month is likely to be a correction month. It means that bitcoin’s rise can be expected. Such a situation was observed in February and March this year. Back then bitcoin rose slightly after three months of decline.

The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.

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