New monthly open for $BTC. We’ve formed quite a bearish narrative going into this new monthly candle. Because of that, there’s a good chance we see a bullish reaction at the start of the month. As seen in previous examples, whenever BTC heads into these periods with a bearish narrative, we usually see an inverse move. The only times we don’t are when we’re on the verge of a major trend shift, like in November, February, and June. Given we’re still ranging and close to the bear market lows, I think there are two scenarios: 1) one final leg down below $57K, or 2) we start pushing higher this month and continue the range. Personally, I think a 2–4% move up at the start of the month makes the most sense even if we head lower.