Few days back I posted about bitcoin price action and how it looked as if it were trying to carve out a new higher range with 112K being the support.
Well, it hit 112K a bounce, which is the second time this has happened thus establishing it as a support level and the bottom of the new higher range.
NOTE: the fed speak from Chairman Powell led to a rally in all investment markets as he hinted at September rate cuts, so I'm still waiting to see if price sells off from that one day pump.
However, if price remains above 112K for the next couple days then that level becomes much more solid in my opinion. We shall see...
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