BTCUSD - Short Term Update (08/09/2024)

Quick 6 minute update on Bitcoin!

Potential small push down this morning to find a bottom on prior consolidation levels and a move to the upside to take out the highs from overnight trading. If this happens, we should see resistance around $64,500 - this is the ideal scenario.

Likely not revisiting $50,000 anytime soon - the market already gave two chances for you to buy there. Revisiting $50,000 would likely mean more lows at this point. Things currently look constructive for a move past $64,500 but that would go out at least 1-2 weeks.