Bitcoin closed the highest ever monthly candle in recorded history. Every time this happened, bitcoin surged by hundreds of percentage points in the following weeks \u2014 so much so that even Peter Thiel regrets not buying more bitcoin earlier.But what does the on-chain data tell us?Let\u2019s dig in.Entrepreneur and venture capitalist Peter Thiel has stated that the increasing price of bitcoin and other cryptocurrencies shows that inflation concerns are real. Criticising the US Federal Reserve, the billionaire investor said that runaway inflation is a crisis moment that the central banks hasn\u2019t acknowledged.Check out the full article here!For how long can BTC\/USD be contained?Bitcoin ended the month of October at the highest monthly close ever, exchanging hands at $61,400 on the close. Historically, every time btc closed an all-time high on the monthly chart, it has continued to rally hundreds of percent more. Indeed, the stage is set for an explosive year-end.In terms of immediate prices, BTC\/USD is locally contained between $59,000 and $67,000. Prices broke out of a falling wedge structure, which is technically bullish and suggests that the coin should rally to the top of the wedge.However, while bullish structures inform the probabilities, there\u2019s still a chance for the setup to fail. Since a breakdown of the structure would include a move below the 20-daily EMA, the next support of interest is the daily Super Trend, located at $56,360.The support also coincides with the bottom of the wedge.In trending markets, the super trend indicator tends to be tested multiple times, which either gives rise to a continuation of the trend or a dead cat bounce (and eventually a trend reversal).Since it hasn\u2019t been tested since starting in October, it can be relied on as somewhat of a floor price in case BTC\/USD heads south.Technical indicators on the daily time\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Bitcoin closed the highest ever monthly candle in recorded history. Every time this happened, bitcoin surged by hundreds of percentage points in the following weeks \u2014 [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/5622"}],"collection":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/comments?post=5622"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/5622\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/media?parent=5622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/categories?post=5622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/tags?post=5622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}