Bitcoin’s Monthly Price Gains Already Highest

Bitcoin hit a fresh 10-month high of $8,335 on Bitstamp earlier today and is currently reporting its largest monthly gain since November 2017. A bearish divergence of the hourly chart relative strength index and overbought conditions signaled by longer-duration RSIs indicate scope for a pullback to $7,400. A rally to $8,500 could be seen in the U.S. trading hours if BTC invalidates the above bearish chart pattern with a move over $8,335.

Bitcoin (BTC) clocked fresh 10-month highs earlier today and currently appears on track to post its largest monthly gain since late 2017.

The cryptocurrency market leader rose to $8,335 at 08:00 UTC on Tuesday, the highest level since July 25, according to Bitstamp prices.

As of writing, BTC dropped back slightly to $8,000, but that still represents 51.5 percent gains on the monthly opening price of $5,267.