BTC price is likely to face headwinds in July from Mt. Gox repayments that could result in a “bull pennant” breakdown on the charts.
Bitcoin (BTC) teeters on the edge of closing June with a monthly loss and clinging to the critical $60,000 support level.
Unfortunately for the bulls, the BTC/USD pair might be headed for rougher waters with a series of bearish indicators pointing towards increased selling pressure in July.
One of the most significant bearish events in the cryptocurrency market in June was related to the long-awaited Mt. Gox repayments.