💰 Bitcoin has always closed in the red in August months during the 364 cycles.
August starts in 48 hours—it's better to start getting ready!
We’ve already discussed everything in a video, including where the resistances are. If you haven’t seen it yet, go watch my videos! 👇🔥 https://app.binance.com/uni-qr/cvid/350330260700018?r=P5L1OI5T&l=pt-PT&uco=6a67sPNftm7Q54uoxoPFHw&uc=app_square_share_link&us=telegram
Now's the time to take off the defense if the values are high!
The key point is that we're in scalp mode and for a bullish trend, Bitcoin needs to stay above the sma50 on the 15-minute chart, and then close the daily above 60k!
If it can't close above 60k, then a deeper correction is on the horizon!
BTC faced a rejection from the resistance zone of 67k and is currently pulling back after a breakout we had already planned.
Despite the short-term weakness, the market structure remains bullish as long as the price doesn’t lose support at 64K and the upward trendline.
A bounce off support could trigger another attempt to hit 67.2K or even reach 68k to 72k. However, if we lose 64K, it could lead to a short-term correction to hunt the retail panic.
I’m @Armandosinaisvip For anything, feel free to contact @giselesinaisvip
BTC is currently testing a crucial support zone around 👉 62k to 60k, which has acted as a strong support and demand area in the past due to the previous halving and its old ATH now serving as a support reference.
A bounce from this zone could trigger a relief rally to hit fib levels and bring bullish momentum back to the market.
However, if BTC loses this support and closes below it, a new drop towards older and lower support levels could follow.
For now, all eyes are on the reaction of this key support region until the daily close at 21:00 Brasília time.
If you want to chat with me, look for @Armandosinaisvip Or @giselesinaisvip