Bitcoin's (BTC) monthly close today may reveal the cryptocurrency's directional bias after a long period of low volatility.
If prices fail to defend long-term support at the 21-month exponential moving average (EMA), currently at $6,108, things may get tougher for BTC's bulls.
This is evident from the fact that price pullbacks witnessed in June, July, and September had ended near the EMA. Further, brief dips below that level quickly bounced back.