Crypto
Bitcoin Adjustment Phase Confirmed, HYPE Faces Crucial Resistance Zone
Bitcoin's daily-level A-wave rebound may have peaked on July 21, marking the beginning of a B-wave adjustment phase.
The market is currently focused on the key resistance zone of $60 to $63.5 for HYPE, and the outcome of this battle will determine which path the market takes.
According to multi-timeframe structural analysis, Bitcoin's daily chart has shown a four-segment adjustment structure since May 6, with the first leg (Wave A) rebound potentially ending on July 21 at $66,955.
A momentum divergence between the entry and exit segments of this rebound suggests that the current price action is an adjustment phase.