On this particular Saturday, the market seemed to have caught a cold, with sellers sneezing all over the place, according to CoinStats. 🤧
BTC/USD
The price of Bitcoin (BTC), like a moody teenager, has declined by 1.43% over the last day. It’s as if the coin woke up on the wrong side of the blockchain. 😴
On the hourly chart, the rate of BTC is going down after a false breakout of the local resistance of $114,008. If the daily bar closes far from that mark, there is a high chance of a test of the support by the end of the day. It’s like watching a clumsy dancer trip over their own feet, only to recover and stumble again. 💃🏻♂️
On the bigger time frame, the price of the main crypto is within yesterday’s candle. It’s as if BTC decided to take a nap inside yesterday’s cozy little box. 😴
If the bar closes below $113,000, traders may witness a test of support over the next few days. The market, it seems, is in no mood for a grand performance today. 🎭
From the midterm point of view, the rate of BTC has almost touched the nearest level of $112,000. If its breakout happens, the accumulated energy might be enough for an ongoing correction to the $110,000 mark and below. It’s like watching a rubber ball bounce lower and lower until it finally rolls away into the abyss. 🌄
Bitcoin is trading at $113,489 at press time. One can only hope it finds its way back up, or at least takes a break from its downward spiral to catch its breath. 🙏
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2025-08-02 18:02