Bitcoin Daily Update
Bitcoin ($BTC) closed Friday with reduced momentum, but the weekly candle still looks bullish. While BTC is relatively stable, its dominance is decreasing, allowing altcoins to grow. Expect this trend to continue over the weekend.
For a market structure to shift to bullish, Bitcoin needs to break above $65,175. It hasn't made a Higher High since March, indicating it's still in a downtrend. If a new Higher High is established, we should consider buying during the next dip.
If Bitcoin gets rejected at the current levels, there's a good chance it could drop to the $60,500-$61,500 range. If that happens, it would mark another lower high, suggesting a potential for a deeper retracement, though that scenario is not guaranteed.
**Current BTCUSDT Price:** $63,040.1 (-0.63%)
**Nearest Liquidity Pools:**
- Above: $63,840 / $64,320 / $65,340 / $67,250
- Below: $62,250 / $61,570 / $60,740 / $59,455
**Key Levels:**
- $58,942: August close
- $54,840: Weekly close
- $53,329: July low
- $50,600: Developing Year VWAP VAL
- $48,888: August low
- $44,779: 2023 high
