As I talked about yesterday, Bitcoin was retesting its short term downtrend, and we were keeping a close eye out for either another rejection or a breakout into the next resistance levels.
Now that we have seen price break above the downtrend with multiple candle closes, it’s safe to assume price will likely rally into its next short term resistance levels at $65k and $65.7k.
These are the levels I’d keep an eye on for potential rejections. If both of those levels are broken, then we should expect a retest of the highs around $67k.
Many people believe August will be a red month, but if Bitcoin can push through these key resistance levels, don’t be surprised if we see a relatively green month.
