📉 BTCUSDT Analysis and Signal - July 2024 📉

Current Price: $64,056

24h Change: -3.36%

🔍 Technical Analysis:

- Moving Averages:The price is currently below the 25-day MA ($63,742) and above the 7-day MA ($63,057), indicating short-term bullish momentum but potential resistance around the 25-day MA.

- Candlestick Pattern: Recent weekly candles show a rejection near $67,087, with the latest candle forming a bearish pattern, suggesting a possible downward continuation.

📊 Market Data:

- 24h High: $67,087

- 24h Low: $63,800

- Volume (BTC): 299,198.827

- Volume (USDT): 19.49B

🌐 Fundamental News:

- Global Market Sentiment: Recent regulatory news and macroeconomic factors are impacting Bitcoin's price, with increased volatility expected in the coming days.

- Investor Behavior: Whale activities and market manipulations are creating significant price swings, making it crucial to stay updated with market news.

🔧 SMC Analysis:

- Key Levels: Resistance at $67,000 and support at $63,000.

- Order Blocks: Significant sell orders near $67,000 suggest strong resistance. Buy orders around $63,000 indicate a potential support level.

📈 Trading Signal:

Given the current analysis, a SHORT position is recommended with the following strategy:

- Entry: $64,050

- Stop Loss: $67,200 (above recent high)

- Take Profit: $60,500 (near support level)

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