Rekt Capital

“#BTC "If this price action ends as an upside wick by the end of the week, this will have been a bearish retest to confirm the breakdown from the 50-week EMA" Already, price action is forming an upside wick beyond the 50-week EMA (purple), solidifying a potential bearish retest here If this continues, the breakdown from the EMA will be confirmed EMAs like the 50-week EMA tend to hold as support in Bull Markets and act as resistance in Bear Markets Thus, price struggling to hold the EMA as support just demonstrates that the trend is not yet conclusively "Full Bull" $BTC #Bitcoin”

“#BTC Bitcoin is indeed rebounding right into the most recently lost old support of ~$78300, potentially as part of turning it into new resistance Turning this level into new resistance would confirm the breakdown that the latest Weekly Close kickstarted Invalidation starts with a reclaim of ~$78300 back into support $BTC #Bitcoin”

“#BTC Bitcoin has Weekly Closed below the 50-week EMA (purple) Technically, this could set price up for a bearish retest of the 50-week EMA into new resistance That said, at this very moment price is trying to reclaim the EMA If this price action ends as an upside wick by the end of the week, this will have been a bearish retest to confirm the breakdown from the 50-week EMA $BTC #Bitcoin”

“#BTC Bitcoin is getting closer and closer to positioning itself for a repeat of May 2026 price action (red circle) Bitcoin needs a Weekly Close above ~$78300 (blue) to avoid May history from repeating $BTC #Bitcoin https://t.co/xZpgixgVma https://t.co/XiEoJ77GMF”

“#BTC At this very moment, Bitcoin is positioned for a bearish Weekly Close below the 50-Week EMA (purple) Of course, there are still a few more hours left until the Weekly Close occurs so things could still easily change But if the Weekly Close occurs just like this and then the 50-week EMA is turned into new resistance afterwards... There'd be a very similar situation to what happened when price initially retested the green 21-week EMA support but ultimately broke down from it weeks later (red circle) Both of these EMAs tend to act as support in a Bull Market So if they can't hold sustainably as support then that would be a confirmation of the trend not being in a full-blown Bull Cycle yet $BTC #Bitcoin”

“#BTC Bitcoin continues its positioning below ~$78300 which is the Weekly level that price needs to successfully retest as support to move higher At the moment, price is below this level, prepared for a Weekly Close below, which resembles May 2026 Such a Weekly Close followed by a bearish retest would likely send price lower $BTC #Bitcoin”

“#BTC Bitcoin has generally maintained these highs over the past few weeks Each time rebounding from ~$77k (orange) into Daily Higher Highs but each time also returning right back into this same $77k level, regularly retracing any gains made (a sign of price weakness) Meanwhile, the RSI has developed two Lower Highs, signalling mounting weakness, strengthening the Bearish Divergences Of course, while as RSI dwindles it is getting closer and closer to the Daily Higher Low on the RSI (blue) which is going to be a potential RSI support worth monitoring in the future Overall, if Bitcoin loses its Daily Price Higher Low (black) and $77k Daily support (orange) then the Bear Divs will validate and this provisional Daily Double Top will activate All about the $77k level on the Daily and the $78300 level on the Weekly and whether they can continue to sustain support amidst signs of mounting weakness $BTC #Bitcoin”

“#BTC At this very moment, Bitcoin is positioned for a repeat of bearish price history However, Bitcoin has a few more days to turn things around before the new Weekly Close, if it can A Weekly Close below ~$78300 could set price up for a breakdown like in May $BTC #Bitcoin https://t.co/p2byeo3R1n https://t.co/upWuzpGObA”

“#BTC Bitcoin has dropped into ~$78300 (blue) for a retest attempt The retest is now in progress Earlier this year (red circle), Bitcoin initially enjoyed a successful retest here but ultimately rejected from $82.5k to enter a retrace Ultimately, a Weekly Close below $78300 followed by a bearish retest just like in early May would likely confirm a breakdown $BTC #Bitcoin”

“#BTC The retest of ~$78300 is now in progress $BTC #Bitcoin https://t.co/qvqvadVvr4 https://t.co/upWuzpGObA”

“#BTC The Daily Bitcoin Bearish Divergences continue and that weakness is slowly translating into price But Bitcoin would still need to confirm a breakdown from $77k (orange) to have this mounting weakness fully translate into price bitcoin:native #Bitcoin https://t.co/ckhQ4WfxWC https://t.co/tx0AexNf7F”

“#BTC Bitcoin has officially Monthly Closed beneath the Macro Downtrend for August However, given that this Macro Trendline is a dynamic resistance, by virtue of the passing of time price has moved beyond the Downtrend More, price has Monthly Closed above the April/May 2026 candle-bodied highs, which are now perfectly confluent with the Macro Downtrend Bitcoin now has a chance to post-breakout retest both the Macro Downtrend and these April/May Monthly highs in an effort to turn them into new support bitcoin:native #Bitcoin”

“#BTC Can Bitcoin prove sustained strength at these highs? Previous overextensions lasted anything from 1 week to 4 weeks before a major pullback Bitcoin has successfully managed to perform a Weekly Close at these highs But Bitcoin will need to perform such a Weekly Closes a few more times to stave off downside and ideally rally to Higher Highs Because if this is a Bear Market Relief Rally, in the absence of stability here and/or a new Higher High, price could pullback strongly within a handful of weeks bitcoin:native #Bitcoin”

“#BTC Bitcoin is still hovering beneath the Macro Downtrending resistance, having upside wicked briefly beyond it Still the pivotal resistance and by staying below it, Bitcoin continues its series of Macro Lower Highs bitcoin:native #Bitcoin https://t.co/anBReUrDhp https://t.co/UZsfPfzT8W”