Bitcoin (BTC) gained 12% in June, but one forecast sees the good times soon fading for bulls.

In a tweet on July 1, popular trader CryptoBullet admitted that July might not offer much more BTC price upside.

Trader: BTC price rally “likely” ending this month

Despite a last-minute dive, thanks to a macro news event, Bitcoin managed to close out the month of June in a solid position.

Data from Cointelegraph Markets Pro, TradingView and CoinGlass confirms that the monthly close came in at $30,465 on Bitstamp.

Those levels continue to hold into the weekend, with the past month marking Bitcoin’s best June performance since 2019.

By historical standards, July looks even better; throughout its history, BTC price action has never lost more than 10% during the month.

For CryptoBullet, however, “common sense” dictates that BTC/USD should fall below some key moving averages.

“So, June surprised me. We got a pretty bullish monthly close: BTC tested the the MA50, bounced strongly and managed to regain the EMA21 !” he commented on the monthly chart.

“I can repeat what I said: $BTC can go to 35k (to hunt liquidity), but this mid term bullish rally is coming to an end. Likely this month.”

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Author: William Suberg

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