After 16 days of consolidation, it broke $BTC the lower support at $115,000 and is now stabilizing around $111,700 โ the market is trying to decode this movement ๐
๐ง Technical reading and overall context:
- โ Technically:
- Negative breakout from the consolidation zone = short-term weakness signal
- The 50-day moving average at $112,951 may be tested soon
- RSI is retreating โ upward momentum is gradually fading
- MACD shows a gradual downward trend ๐
- ๐ Fundamentally:
- The Fed keeps rates steady = continued pressure on risky assets
- Rate cut expectations in September dropped from 60% to 43%
- The White House report pushes for clearer regulation of cryptocurrencies
- Anticipation of non-farm payroll (NFP) reports may bring additional volatility
- Trade wars and Trump's tariffs add a geopolitical element that increases the fragility of the landscape ๐งฏ
๐ What could reverse the trend?
- Approval of ETP regulation = opening the door for new institutional tools ๐
- Coinbase's collaboration with JPMorgan Chase = a sign of industry maturity
- Continued demand for ETFs + regulatory clarity = potential positive factors in August
๐ Summary?
The market is at a critical juncture โ any break below the technical averages without a clear rebound could lead $BTC into a broader corrective wave towards the $109โ105K range. Conversely, any rebound from these areas driven by institutional momentum could retest $120K then $123K.
๐ข Follow us for real-time analysis and price action charts ๐
