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"Bitcoin Eyes $122K Breakout as Bulls Defend Key Fibonacci Support"**
Looking at your BTC/USDT 4-hour chart:

**1. Trend & Structure**

* Price is in an **uptrend** after breaking above the descending resistance seen earlier in August.
* There’s a **higher high & higher low** pattern forming, supported by the red ascending trendline.
* The **50 EMA** (white) is above the 200 EMA (blue), signaling short-term bullish momentum.

**2. Fibonacci Levels**

* Recent retracement respected the **0.382–0.5 zone** (around $119,800–$120,200) as support.
* Price is now testing above the *0.786 Fibonacci retracement** ($121,150).
* A breakout and close above $121,200 could push toward $122,000–$122,500** next.

**3. Support Zones**

* **Immediate support:** $120,200 (trendline + Fib 0.5)
* **Stronger support:** $119,400 (Fib 0.236)
* **Major support:** $118,000 (horizontal red line + previous swing low)

**4. Resistance Levels**

* **Immediate resistance:** $121,200–$121,300
* **Major resistance:** $122,000–$122,500
* Above that, potential upside toward $123,000+

**5. Volume**

* Increasing green volume bars suggest buyers are stepping in on pullbacks.

**6. Trade Bias**

* **Bullish scenario:** Hold above $120,200 → possible breakout above $121,300 → target \$122,500.
* **Bearish scenario:** Break below $119,400 → retest $118,000 → risk of deeper correction toward $116,000.

#CreatorPad
It’s a wild day in the markets on August 1, 2025—crypto and the S&P 500 are taking a beating, and a rising unemployment rate is adding fuel to the fire! Here’s the lowdown on what’s driving the chaos:
🔍 *Why Crypto’s Crashing*:
- **Bitcoin’s Technical Tumble**: BTC broke below $118,859, sparking $560M in liquidations in 24 hours! 😱 Next levels to watch: $116,240 or even $110K if the bears keep charging.
- **Macro Mayhem**: New U.S. tariffs (10–41%) are boosting the dollar, dimming crypto’s shine. The Fed’s hawkish stance—only 2 rate cuts in 2025—is spooking risk-takers.
- **Yen Carry Trade Unwind**: Japan’s rate hike is forcing traders to dump risky bets, hitting both stocks and crypto hard.
📊 *S&P 500’s Rough Ride*:
- **SPY Snapshot**: Down to $620.875 from $632.08, with tariffs stoking fears of inflation and trade wars. Tech stocks are cooling off after a hot streak.
- **Recession Signals**: The “Sahm Rule” is flashing red as unemployment creeps up, pushing investors toward gold and bonds.
- **Fed Pressure**: Fewer rate cuts mean higher borrowing costs, slamming growth stocks in the S&P 500.
📈 *Unemployment Rate Jolt*:
- The U.S. unemployment rate rose to **4.2% in July 2025**, up from 4.1% in June, signaling a cooling labor market. Job growth slowed to just 73,000 in July, with downward revisions slashing 258,000 jobs from May and June estimates. This uptick is raising recession fears, triggering risk-off moves in both crypto and equities.[](https://www.bls.gov/news.release/empsit.nr0.htm)[](https://www.nerdwallet.com/article/finance/jobs-report-unemployment-rate)

🤔 *The Big Picture*: Crypto and stocks are moving in lockstep (BTC/SPX correlation ~0.75). Rising unemployment and tariffs are amplifying the sell-off, but MicroStrategy’s $4.2B Bitcoin buy could cushion BTC’s fall. 🐂 Keep an eye on Bitcoin

💡 *What’s Next?* Tariffs, Fed policy, and jobs data will drive the next moves. Are you buying the dip or playing it safe? Drop your take below! 👇 Let’s talk markets! 🔥
#CryptoCrash #SP500 #Unemployment #Bitcoin #CryptoCrash #SP500 #Unemployment #Bitcoin #Investing
#CreatorPad