๐จ $BTC in a critical zone: Are you buying or selling at $62,500?
Bitcoin has been moving sideways for 6 hours around $62,500, and volatility is compressing like a spring. The longer it stays in this range, the stronger the breakout will be.
๐ What the chart says:
ยท Immediate support: $61,800. If it breaks, the path to $60,000 is wide open.
ยท Key resistance: $63,000. A 4-hour close above it would confirm the bullish continuation.
ยท Hot data: The U.S. CPI is released today at 14:30 UTC. Itโs expected to be 3.8%. If the number comes in lower, BTC could surge. If itโs higher, get ready for a correction.
ยท Capital flow: Bitcoin ETFs recorded yesterday $425M in outflows, the highest figure in July. This suggests institutions are taking profits or hedging.
โก My action plan for today:
ยท Bullish scenario: If CPI comes in low and BTC breaks above $63,000 with volume, I open a long position targeting $65,000 with a stop at $61,500.
ยท Bearish scenario: If CPI is high and BTC loses $61,800, I wait for the rebound to sell, or I simply stay in stablecoins.
ยท Without confirmation, I donโt trade. Iโd rather miss an opportunity than risk capital without clarity.
๐ฌ And you? Are you buying this level or waiting for the CPI data to decide? Iโm reading your comments!
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