đ BTC Trading Setup â August 3
Bitcoin sitting near $64K, testing the 50-day EMA. Here's what traders should watch this week:
đŽ Resistance: $65,000â$67,000 zone â a 4H close above $66,700 could open the door to $70K+
đą Support: $63,000â$63,800 (immediate) â $61,300â$62,000 (secondary if broken)
Sentiment check: Fear & Greed Index at 28 (Fear) â market still cautious despite the July bounce. Historically August has been Bitcoin's weakest month (avg. -7.5% median return since 2013), so don't be surprised by chop.
Trade idea framing (not advice): Range-bound between support/resistance until a decisive break either side. Watch volume on any test of $65K â that's the level that matters this week.
BTC dominance holding strong at 56.3%, so alts likely follow BTC's lead here.
NFA â always manage your own risk. đ
Bitcoin sitting near $64K, testing the 50-day EMA. Here's what traders should watch this week:
đŽ Resistance: $65,000â$67,000 zone â a 4H close above $66,700 could open the door to $70K+
đą Support: $63,000â$63,800 (immediate) â $61,300â$62,000 (secondary if broken)
Sentiment check: Fear & Greed Index at 28 (Fear) â market still cautious despite the July bounce. Historically August has been Bitcoin's weakest month (avg. -7.5% median return since 2013), so don't be surprised by chop.
Trade idea framing (not advice): Range-bound between support/resistance until a decisive break either side. Watch volume on any test of $65K â that's the level that matters this week.
BTC dominance holding strong at 56.3%, so alts likely follow BTC's lead here.
NFA â always manage your own risk. đ