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$BTC Many are predicting the market will drop, but I see things differently. Yesterday, I highlighted a falling wedge pattern, and after breaking the $61,980 to $62,380 range, it confirmed a bullish trend. We hit $64,420 before pulling back to the same range, which is expected due to recent consolidation. Despite talk of a decline, I remain confident in my analysis and believe we’ll see an uptrend soon. The current market signals are fake breakouts designed to trap traders, but buyers are active, and the bullish move is on the way. Disclaimer: This is not financial advice; confirm trends before trading.

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$BTC I guess BTC longs are waiting at 61.6k

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$BTC This is possibly the first significant move where Bitcoin has fallen behind the rise in gold prices. However, this gap is unlikely to persist, and Bitcoin is expected to move closer to gold’s growth starting Monday, despite the negative impact of ETF selling on its progress. Currently, Bitcoin is hovering above its daily and monthly support levels, completing the monthly correction phase within the second wave of the Elliott Wave theory (bearish wave). To initiate the upward third wave, the ongoing correction needs to be finalized, which could extend for more than three months. It is crucial to maintain the monthly support level throughout this period, so that Bitcoin can eventually navigate through the hourly, daily, and weekly timeframe and ABC corrections slowly. With the CME closed today and tomorrow, significant price movements are unlikely, but an intriguing Monday awaits. Key Support: 55,200 Key Resistance: 62,000

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$BTC As observed on the 4-hour chart, Sundays typically show low volatility for Bitcoin. The daily chart indicates that the previously broken resistance at 59,700 is now reestablishing itself as support on the 4-hour timeframe. If Bitcoin can hold this support, it is likely to move toward higher levels starting tomorrow. However, it is important to note that the 55,000 level has a significant hidden gap, which could result in a sharp drop to 55,000 before potentially rebounding above 60,000. Current support: 59,600 Current resistance: 62,000

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$BTC Bitcoin has lost its primary weekly support and is now hovering around the weekend support level of 59,800. It is highly likely that the 59,800 support will not hold, leading to a further decline towards the monthly support at 51,000. If the 59,800 level is breached, we can expect a sharp price drop. Additionally, geopolitical tensions in the Middle East, including the potential for conflict in Lebanon, combined with a significant drop in the American stock market, are exerting extra pressure on the cryptocurrency market. Contrary to the views of many analysts, I believe that from today until the end of August, the market will perform poorly, with the negative trend worsening around mid-month. Original support: 59,800 Current resistance: 66,500

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