📊 Bitcoin | Technical Update For the fifth time this July, Bitcoin is testing the monthly VWAP. Repeated tests of the same support level are not a positive signal, as buyer strength typically weakens with each retest. Previously, there were clear buy orders on the order book defending this level; now, that same strength is absent, while sell orders remain concentrated above the price. However, I don’t rely on a single indicator to determine trend direction, so I’ll wait for the close. A daily close below $63,300 would increase the likelihood of targeting the weekly POC liquidity zone near $60,000.
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