FX.co ★ teagan.orn | #Bitcoin chart analysis

BITCOIN TODAY Friday, 08/07/2026 Good afternoon fellow traders. How’s your trading going today? Hope you’re always in profit. This afternoon I’ll analyze the price action and make a trading plan for bitcoin. Here’s the full analysis and trading plan for bitcoin: BITCOIN TECHNICAL ANALYSIS Current price: 64,388.84 Timeframe: H4 STRUCTURE & TREND Major Trend: From July 12 at 62,272 → July 20 at 66,973. Up, then corrected back to 62,272 again on August 2. MA50: 63,679.80. Current price 64,388 is above the MA and the MA is starting to slope up = bullish momentum returning. Current Condition: Bitcoin is in a small correction after testing 64,865. It’s being held in the 64,200 - 64,400 area. This is a tug-of-war zone between buyers & sellers. KEY LEVELS Resistance 65,771.83 - Medium-term resistance 66,973.50 - July 20 high. If it breaks, valid continuation to 67k+ Support 63,679.80 - MA50. Dynamic support 62,272.66 - Strong support. July 13 & August 2 low 61,321.47 - Lower support Purple Arrow Scenario Bullish: Breaks 65,771 → continues to 66,973 Bearish: Breaks below 63,679 → drops to 62,272 CONCLUSION Bitcoin is still _bullish_ as long as it holds above 63,679. The 65,771 area is the decider. If H4 closes above 65,771, it’s valid to target 66,973. But if it fails and drops below 63,679, the probability of a correction to 62,272 is high.

TRADING PLAN BUY / LONG PLAN - Breakout Continuation Up Trigger: H4 close above 65,800 Entry: 65,850 - 65,900 after a retest of 65,771 from above SL: 65,100. Below 65,200 + $700 buffer TP1: 66,973. July 20 high TP2: 67,800. Extension RR: ± 1:1.6 to TP1 Reason: Break of resistance + price above MA. Confirms continuation of the uptrend. SELL / SHORT PLAN - Break of MA 50 Support Trigger: H4 close below 63,600 Entry: 63,550 - 63,500 after a retest of 63,679 from below SL: 64,300. Above 64,100 + $700 buffer TP1: 62,272. Strong support TP2: 61,321. Lower support RR: ± 1:2.3 to TP1 Reason: Break of MA + short-term structure break. Sellers in control. BUY / LONG PLAN - Bounce from MA 50 Trigger: Price drops to the 63,600 - 63,750 area + a bullish reversal H4 candle appears Entry: 63,650 - 63,700 SL: 62,950. Below 63,200 + $700 buffer TP1: 64,865. Yesterday’s high TP2: 65,771. Resistance RR: ± 1:2.1 to TP1, ± 1:3.4 to TP2 Note: Play the bounce in line with the trend. Invalid if H4 closes below 63,679. ADDITIONAL NOTES What must be monitored over the next 24 hours are the 63,679 and 65,771 lines Break above 65,771 → Target 66,973 Break below 63,679 → Target 62,272 Holding between 63,679 - 65,771 → Sideways, wait for a breakout. Checklist Before Entry H4 candle has closed according to the trigger Any USD/Fed news in the next 1 hour SL already set at 1-2% of capital Minimum RR 1:1.5.