Bitcoin has strongly held above the crucial $66K resistance channel as buyers gain confidence. However, sellers are also defending the immediate resistance channels around 23.6% Fib level at $68K. As of writing, BTC price trades at $67,083, declining over 1.2% in the last 24 hours.

The key support level to watch is $65,000. If buyers can turn this level into support, the price could rally to $70,000, though sellers are likely to strongly defend the $70,000 to $73,777 range.

The first sign of weakness would be a break and close below $65,000, which could lead to a drop to the ascending trend line at $62K. If the price bounces back from the 50-day EMA, the bulls might attempt another push to $70,000.

However, if the price breaks below $62K, it would indicate that the bulls have lost momentum, potentially leading to a further drop to the 50-day simple moving average (SMA) at $60,987. $BTC

Think you can predict the BTC market? Put your intuition to the test and grab your share of the $5,000 USDC reward pool! Join our daily “Bullish vs Bearish” voting campaign and connect with the crypto community by sharing your market sentiment.
Campaign Period: 2024-08-08 00:00 to 2024-08-14 23:59 (UTC)

How To Participate:
Vote on $BTC Direction and Share Insights:
Option 1: Visit the BTC trading page and vote whether the day will be bullish or bearish. Share your insights and reasoning behind your vote in an accompanying post.

Option 2: Create a post through the “+” posting button on Binance Square, adding the $BTC cointag, and vote bullish or bearish in the content editor.

Winning Criteria:
Bullish Votes Win: If the BTC price at the end of the day (daily close price) is higher than the price at the beginning of the day (open price).Bearish Votes Win: If the BTC price at the end of the day (daily close price) is lower than the price at the beginning of the day (open price).
Eligibility: 
Only the first prediction per day will be considered if a user makes more than one prediction.Voting and posts made between 21:00-24:00 UTC will not be counted as eligible entries.

Reward Structure:
Daily Challenge
Participate in our daily task! Users who post and vote in the correct direction will be eligible to share a $500 USDC prize pool each day. Join every day and predict correctly to win!
*Individual cap: $2 USDC per participant per day.
Extra Rewards: Make correct predictions for several days and earn additional rewards!

Terms & Conditions
This Activity may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the Activity Period in order for the votes to count. Each day runs from 00:00 (UTC) to 23:59 (UTC). Rewards will be distributed in the form of token vouchers to eligible users within 21 working days after the Activity ends. Users will be able to log in and redeem their voucher rewards via Profile > Rewards Hub. Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to cancel a user’s eligibility in this activity if the account is involved in any behavior that breaches the Binance Square Community Management Guidelines or Binance Square Community Platform Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.Binance reserves the right of final interpretation of this Activity.Additional promotion terms and conditions can be accessed here.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.