Aug 4 - Bitcoin's Recovery Coming To An End?
After a retest to $42,500, bitcoin lost momentum and extended its decline below the 100 hourly simple moving average.
Bitcoin continues its pullback on August 4, falling below $38,000 resistance, and now enters the tight range of 37k-39k. If BTC fails to reclaim the $39,000 resistance level, it could risk a drop further to $35,000. Downside price retracement levels include $39319.93, $37405.42, $35858.09, and $34310.75. Bitcoin failing to rebound to $39,000 in the next few days will indicate the BTC/USDT pair could touch $28,800 in its worst scenario.
Bitcoin continues its pullback on August 4, falling below $38,000 resistance, and now enters the tight range of 37k-39k. If BTC fails to reclaim the $39,000 resistance level, it could risk a drop further to $35,000. Downside price retracement levels include $39319.93, $37405.42, $35858.09, and $34310.75. Bitcoin failing to rebound to $39,000 in the next few days will indicate the BTC/USDT pair could touch $28,800 in its worst scenario.
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