$64K is a psychological and technical level—it held support three times in July. A break below opens downside to $63,750 (June low) and $62,500 (Aug low). Breaking above $66K targets $68K.
$75K in Bitcoin liquidations occurred in 24 hours—signals heavy leverage. This suggests traders positioned for a move down, but the CPI beat squeezed shorts. Watch for cascading stop-loss hits if BTC clears $65.5K.
Intraday: Resistance $65K-$65.5K, support $64.2K. If BTC holds above $64K into tomorrow, bulls control the narrative and $66K is likely. A break below $63.8K invites shorts to re-enter.
The CPI beat is deeply bullish long-term (Fed cuts coming), but short-term volatility persists. August 22 non-farm payroll data is the next major catalyst. Watch technicals while macro tailwinds build.
Read More →