#SummerCreationCamp

İ have analyzed the #BTC weekly chart. Unfortunately, it has been forming lower highs since the 126k peak; meaning, it drops, then rallies, but fails to sustain a level above the previous lower high.

It is currently trying to hold the 57,000 support level. There is a possibility of a rally acting as a corrective bounce against the decline.
However, if it fails to close above 82,941 on the weekly chart, the downtrend it initiated will continue.

Another possibility is that it might form the final shoulder of a "Libra" pattern on the weekly chart, potentially leading to a decline after a rally toward the 98k–107k zone.

Buyers do not enter the crypto sector unless liquidity in the market increases, as it is considered a risky asset class. If the Fed cuts interest rates, it signals increased market liquidity, leading us to expect buyers to return to crypto.

For now, any upward movements are merely corrective bounces. However, these interim rallies can still present good opportunities.
Therefore, we continue to monitor the charts across lower timeframes.

$BTC $GT $ETH