$BTC

Bitcoin's Struggle at 58K Continues!

Bitcoin made another push towards the 58K mark yesterday, but weak trading volume allowed the bears to hold their ground.

This price action reinforces my view that we're heading for a dip toward the CME gap at 54K and hitting the lower end of the channel before any significant move upward. Right now, there's no solid volume to drive a major bullish trend.

The 56.5K level is holding as support for now, but I doubt it will last long. The only wildcard here would be unexpected inflation data, though that's unlikely since recent forecasts have been spot on.

Long-term, nothing has shifted. I’ve mapped out a scenario that shows a likely dip in the coming days, with a potential surge starting in October.

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