Technical analysis by MOTIONCAPITALTRADING about Symbol BTC on 7/28/2024

In this update, I share my current stance on Bitcoin trading. I'm bullish when the price is above the 70,000 mark but turn bearish if it dips below this level. Currently, Bitcoin is holding support at a critical supply level; however, if we lose this resistance, it will transition into support. This week is significant due to the Non-Farm Payroll (NFP) announcements, with Monday being the only day devoid of major news. The most impactful events to watch are the Federal Open Market Committee (FOMC) meetings and the federal funds rate decision.