Bitcoin just hit $75.7K, almost reaching the $76K target đ„
Yesterday, I clearly mentioned that if #BTC broke $70.7Kâ$71K, the first targets would be $72K â $74K.
âą $76K â NOW BEING TESTED
But now comes the tricky part. đ
Bitcoin is approaching a major decision zone.
đą Bullish Scenario
If $BTC breaks and holds above $76K with strong volume:
âĄïž Next Target : $80K â $82K
A sustained move above $76K would be a major signal that the long-term descending trendline is finally losing control.
đŽ Rejection Scenario
If $76K fails to hold and sellers step in:
âĄïž BTC could move back toward $72K â $70K
So don't blindly chase here.
Watch the descending trendline + MA200 on the daily chart for confirmation of whether this breakout is real or just another rejection.
And about the âAugust is bearishâ narrativeâŠ
At the beginning of August, I saw plenty of people saying: âAugust is historically a negative month for Bitcoinâ
Well⊠what happened? đ
Bitcoin basically slingshotted straight through that narrative. đ
Yes, Bitcoin has recorded several negative Augusts historically, and the past 4 years were negative.
But that doesn't mean every August has to be bearish.
Historical patterns are useful for context â they are not guarantees.
Don't let random narratives or hype content make your trading decisions for you.
Right now, Bitcoin is up roughly 20% this month, and after the 50% brutal correction from the ATH earlier in the year, this move is giving the entire crypto market a fresh wave of hope. đ„
Liquidation Update â ïž
The last 24 hours have been absolutely brutal for shorts:
âą $1.23B total liquidations
âą $1.05B from shorts
âą $747.89M â #Bitcoin shorts liquidated
âą $156.59M â $ETH shorts liquidated
âą $7.21M â $XAU shorts liquidated
Can Bitcoin hold $76K and continue toward $80Kâ$82K, or will $76K become another major rejection? đ
Watch $76K + trendline + daily MA200.
That's where the next major decision could happen. đ
Yesterday, I clearly mentioned that if #BTC broke $70.7Kâ$71K, the first targets would be $72K â $74K.
âą $76K â NOW BEING TESTED
But now comes the tricky part. đ
Bitcoin is approaching a major decision zone.
đą Bullish Scenario
If $BTC breaks and holds above $76K with strong volume:
âĄïž Next Target : $80K â $82K
A sustained move above $76K would be a major signal that the long-term descending trendline is finally losing control.
đŽ Rejection Scenario
If $76K fails to hold and sellers step in:
âĄïž BTC could move back toward $72K â $70K
So don't blindly chase here.
Watch the descending trendline + MA200 on the daily chart for confirmation of whether this breakout is real or just another rejection.
And about the âAugust is bearishâ narrativeâŠ
At the beginning of August, I saw plenty of people saying: âAugust is historically a negative month for Bitcoinâ
Well⊠what happened? đ
Bitcoin basically slingshotted straight through that narrative. đ
Yes, Bitcoin has recorded several negative Augusts historically, and the past 4 years were negative.
But that doesn't mean every August has to be bearish.
Historical patterns are useful for context â they are not guarantees.
Don't let random narratives or hype content make your trading decisions for you.
Right now, Bitcoin is up roughly 20% this month, and after the 50% brutal correction from the ATH earlier in the year, this move is giving the entire crypto market a fresh wave of hope. đ„
Liquidation Update â ïž
The last 24 hours have been absolutely brutal for shorts:
âą $1.23B total liquidations
âą $1.05B from shorts
âą $747.89M â #Bitcoin shorts liquidated
âą $156.59M â $ETH shorts liquidated
âą $7.21M â $XAU shorts liquidated
Can Bitcoin hold $76K and continue toward $80Kâ$82K, or will $76K become another major rejection? đ
Watch $76K + trendline + daily MA200.
That's where the next major decision could happen. đ