59,000 was the previous highest monthly close in MARCH before the OCTOBER close.
As long as these two levels hold on a HTF basis (weekly & monthly) IMO we are likely very much still in a bull run and about to see HHs and HLs going forward.
Bears want the current breakout to be a false breakout and recent PA is indicating they are trying to fade it.
A HTF close below either of these levels mean we go sideways to down and could trigger a bigger pullback.