🚨 $BTC in a critical zone: Are you buying or selling at $62,500?
Bitcoin has been moving sideways for 6 hours around $62,500, and volatility is compressing like a spring. The longer it stays in this range, the stronger the breakout will be.
📊 What the chart says:
· Immediate support: $61,800. If it breaks, the path to $60,000 is wide open.
· Key resistance: $63,000. A 4-hour close above it would confirm the bullish continuation.
· Hot data: The U.S. CPI is released today at 14:30 UTC. It’s expected to be 3.8%. If the number comes in lower, BTC could surge. If it’s higher, get ready for a correction.
· Capital flow: Bitcoin ETFs recorded yesterday $425M in outflows, the highest figure in July. This suggests institutions are taking profits or hedging.
⚡ My action plan for today:
· Bullish scenario: If CPI comes in low and BTC breaks above $63,000 with volume, I open a long position targeting $65,000 with a stop at $61,500.
· Bearish scenario: If CPI is high and BTC loses $61,800, I wait for the rebound to sell, or I simply stay in stablecoins.
· Without confirmation, I don’t trade. I’d rather miss an opportunity than risk capital without clarity.
💬 And you? Are you buying this level or waiting for the CPI data to decide? I’m reading your comments!
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