BTC analysis 7/25:
After hitting major resistance at frame W, BTC corrected from 68.5k to 63.9k and is currently trading in the range of 64.1k - 64.2k.
✅ Support level:
🔹 62.3k - 63.2k
🔹 60.7k - 61.2k
✅ Resistance level:
🔹 65.2k - 65.8k
🔹 66.8k - 67.3k
🔹 67.8k - 68.5k
💎 BTC has broken a minor divergence, making this area susceptible to two possible scenarios:
🔹 Scenario 1: If BTC closes above 65.1k today, it will form a sideway accumulation zone and have a short-term recovery.
🔹 Scenario 2: BTC continues to recover slightly and falls to lower support levels, especially the 62.3k - 63.2k area.
🔹 Personal observation: BTC is likely to follow scenario 2. EMA 34 and EMA 89 are intersecting at 63.9k, this will be a support level and can create momentum for price increases or at least accumulation sideway in this area.
This decrease is expected to last for 4-5 days before there is a new signal.
📊 Market influence:
🔹 Developments from Mt. Gox and the decline in stock prices of large US companies due to low revenue shows that interest rates from the FED are directly affecting the entire financial market.
🔹 If the upcoming interest rate announcement in September is not as expected, it could be a major adjustment for BTC and the entire market.
