$BTC 📉 Technical Outlook – July 8 📈
Bitcoin is consolidating below key resistance, signaling a potential breakout or deeper retrace ahead.
🔍 Chart Analysis (4H & Daily):
Price: ~$[insert approximate price manually, e.g., $58,500]
Trend: Lower highs forming; descending wedge structure developing
RSI: Hovering near 44 – neutral to slightly bearish
MACD: Weak bullish crossover, but momentum remains flat
Volume: Declining on bounces – breakout conviction lacking
📌 Key Levels:
Immediate Resistance: $59,200
Major Resistance: $61,000
Support Zone: $56,800 – $55,500
Breakdown Trigger: Close below $55,000
Breakout Target (if wedge breaks upward): $63,500+
🧠 What to Watch:
Watch for a strong 4H close above $59.2K with rising volume for bullish confirmation
A drop below $55K with high sell volume could signal continuation lower
Sideways action suggests accumulation – or indecision before a bigger move
📊 Bias: Neutral – waiting for confirmation.
🔁 Your move: Range trade or wait for the breakout?
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