$BTC 📊 Bitcoin (BTC) Weekly Outlook – 2 August 2025

Bitcoin is trading at $57,840, showing signs of a potential correction after failing to break the key resistance zone near $59,500. The market is leaning slightly bearish in the short term, but still structurally bullish on the higher timeframes.

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🔍 Current Market Conditions

Price: $57,840

24h Change: -1.8%

Volume: Increasing on red candles = rising sell pressure

Market Sentiment: Cautiously bearish

Dominance: BTC dominance at 49.7%, signaling altcoins may follow BTC's next move

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🧠 Technical Breakdown

✅ Daily Chart

Rejected from major resistance at $59,500–$60,000

Still above major support at $54,800, which has held multiple times

EMA 50 and 200 crossing = possible trend slowdown

✅ 4H Chart

Trendline support broken at $58,300

RSI near 40 (weak momentum)

MACD shows bearish crossover

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📉 Bearish Scenario

If price breaks $56,200, next support is $54,800

Below that, $52,500 is the next major demand zone

Ideal short entry: $58,000, SL: $59,300, TP: $54,800

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📈 Bullish Scenario

If BTC holds above $56,200, we may see a retest of $59,500

Break above $60,000 could push toward $63,000–$65,000

Wait for bullish engulfing candle + volume

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📌 Conclusion

🔸 Short-term: Bearish bias

🔸 Mid/long-term: Still bullish unless $52,500 breaks

🔸 Key levels to watch: $54,800 support and $59,500 resistance

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⚠️ Disclaimer: This is not financial advice. Trade with risk management and always do your own research.

💬 What’s your BTC plan for this week? Bullish or bearish?

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