Oddbean

https://image.nostr.build/70244da6769b43b2d375bc1cfe706f3ed023fb3e9b1fb36055949e2d12138673.jpg Market Update - 7/16/2024 Bitcoin is showing signs that $62.7k (Monthly Open) will become 4 hour support. After this morning's rejection of $65k we now have 4 hour supply at $64.4k, just under the Monday High, which is likely to be significant resistance. We are starting to see Mt Gox move significant amounts of BTC around, so there is a little uncertainty from this FUD. Be aware that this could cause some bearish momentum and we do have some key levels below that have not been retested since the breakout- most significantly $61.4k (Prev Week High & 4hr EMA200.) The Monday range this week is $60.6k - $64.8k.