$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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