21:06 UTC
Downtrend, basing attempt · RSI 47 · price 62,224.47
Lower highs off the May top, holding above the YTD low.
BTC remains in a downtrend that began at the ~82.7k top in early May, trading below a falling EM(50) on D1. Price tagged a 57.7k YTD low in early July and a dovish Warsh read sparked a bounce toward the 64.6k swing high, which rejected; the market is now consolidating near 62k under the 63k supply wall. Eight straight weeks of ETF outflows continue to cap rallies, leaving the 58k/60k floor versus 63k as the defining range.
Support: 60,000.00, 57,741.00
Resistance: 64,617.00
What it said to watch
- Daily close above 64617 swing high would break the lower-high sequence
- Failure to hold the 60000 psych level exposes a retest of the 57741 ytd low
- US CPI Jul 14 is the dominant catalyst and could reset this read