Technical analysis by elefes about Symbol BTC on 7/1/2024

Sadly, 67k did not hold. We're back above 61 though, which is good. 1H, 4H are strong. Daily looks bad: below the 21 MA, below ~64k resistance. Weekly is weak until we reclaim 66k+: currently below 9 and 21 MAs, near the bottom part of the range that we already touched the support 5 times. I'm hoping / expecting BTC to continue chopping in a 61k - 71k range until it finally goes way way way higher. I'm avoiding trading to avoid being stuck with stables should BTC go above 71k to 73k. Why? I'm speculating that large players/exchanges are intentionally causing the volatility to liquidate as many leveraged gamblers as possible, while they accumulate large long spot positions themselves.