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📅 July 3, 7:00 – July 9,
BITCOIN 200 EMA HOLDING STRONG 🚀
The 200 EMA has been a critical level for #BTC this year.
Every time the price has dipped below it, we've seen a quick recovery.
These dips have proven to be BEAR TRAPS , luring in sellers before a strong bounce back.
We’ve seen quick rejections around $50k to $53k in May, July, and August.
Each time, Bitcoin has snapped back, refusing to stay under the 200 EMA for long. This kind of price action shows how strong the bullish sentiment remains.
Right now, we’re hovering just above the 200 EMA again. The question on everyone’s mind -
Will Bitcoin surge from here, or is there a bigger drop ahead?
On the upside, $67,000 is our new key support based on volume, slightly up from $66,000 a month ago.
A major bullish move will likely require breaking the key levels around $69,000 with a retest and holding above it for at least a week.
But let’s not ignore the downside risk. If Bitcoin breaks below $56,000 and doesn’t recover within 1-2 days, bearish sentiment could take over, pushing the price much lower.
What do you think? 🤔