Bitcoin just closed its fourth green week in a row, the last time this happened was in August 2021, over 18 months ago. Also we just had the highest monthly gain since December of 2020. We truly had a dream start.
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We are just about the close off the chapter of January 2023 and for Crypto it was one hell of a chapter and it all really felt more alive than ever again. With this one rally we broke several long-lasting indicators that were initial resistances for this bear market but more than that, it was finally some green candles again after one year of just pain and pain.
As one last page of statistics for this month, we just closed our fourth consecutive week in green and it also was the highest weekly close since August 2022 at $23.7k. The last time we had four or more consecutive green weeks was in August 2021, when we recovered from the xth China mining ban.
Picture from btcarchive on Twitter
Those green weeks are obviously also emphasize how strong our current rally is and how hard we are bouncing off from those low levels of $15k we had a few weeks back. But its also a sign that we should be cautious as each green week was getting smaller and less powerful, the first red week may be just around the corner.
Now we can have a look on our monthly close that should happen in a few hours, as of now we are sitting at about 43% of a monthly gain and that is A LOT, in fact it would be one of the highest monthly gains of BTC ever, and the highest since December 2020, over two years ago. This demonstrates once again that this is not an everyday-rally but a once in a while one and if any rally would be a reversal then one like this. Whether reversal or not, now just lay back and enjoy all the green.
submitted by /u/partymsl
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