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Assessment: You think that pivot at $62,915 was meaningful? LOL! It’s been on the chart for months and look how price behaved on July 1st before Bitcoin finally sold off. The sell-off is now underway. As discussed, the key would be once $60K broke then we would see an acceleration in selling and that is what we have seen thus far (Chart #1).

In Chart #2, the next meaningful support level will be round number at $50K. If that fails to hold then there is a good chance we head to the lower pivots (blue lines) at $42,024 and $37,492.

Bitcoin Chart #1: https://sblk.io/s/peMvTPubSQs2Qh69

Bitcoin Chart #2: https://sblk.io/s/BYmwU7uESzskRidy

Have a great weekend!

Good luck in your trades!