📉$BTC Bitcoin (BTC) Market Update - 2 August 2025
Bitcoin is currently trading around $57,840, showing bearish pressure after failing to hold above key resistance at $59,500.
🔎Technical Outlook:
• Price broke below the 4H trendline support.
• Bearish engulfing candle closed below $58,200, confirming selling pressure.
• RSI trending downward, indicating weakness.
📉Short-Term Bias: Bearish
📍Key Resistance: $58,500 - $59,500
📍Key Support: $56,200 - $54,800
📊1 Trade Setup Idea:
• Sell below: $58,000
• Stop Loss: $59,300
• Take Profit 1: $56,200
•™Take Profit 2: $54,800
⚠️Note: Wait for confirmation candles before entering.
This is not financial advice Manage your risk.
What's your outlook on BTC this week? Let's discuss below!
#Bitcoin #BTC #Crypto Trading #Binance
