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Not looking great for $BTC right now.
Bitcoin just got rejected from the 50W MA, and this is a level bulls really need to reclaim on the weekly close.
If we can close back above it, the $57K low starts looking much more convincing as the bottom.
The worrying part? The last two major rejections from this area were followed by ugly downside.
If BTC loses the 50W MA again, the 200W MA around $65K becomes the next big level on my radar.
This weekly close matters a lot.
#AugustCoreCPIBeatsExpectations
#SenateReleasesNewCLARITYAct