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#BTC# / #USDT# 1D
The rejection at $123K (PMH) perfectly coincides with massive outflows of spot Bitcoin ETFs in the United States 🔴
The data doesn't lie 👇
📈 EARLY JULY:
> Inflows of $600-750M
> Break towards new ATH
> Bullish market structure intact
📉 JULIO TARDÍO - AGOSTO:
> Outflows of ~$600M
> Technical rejection confirmed
> Correction of 9.10% from highs
This means that the drop we have experienced may not be a simple temporary correction and we should be alert.
🎯 KEY LEVELS TO WATCH:
> Resistances:
$123,218 (PMH) - rejected ❌
$115,764 (MO) - critical equilibrium zone
> Supports:
$113,945 - current price 👀
$110,529 (FVG 1W) - gap to fill
$105,100 (PML) - major support
What can we expect in the coming days in Bitcoin?
⚖️ PROBABILITIES:
> 50% consolidation $110-115K
> 30% recovery towards ATH
> 20% deep correction
🔍 TAKEAWAY:
We are in institutional redistribution. The behavior in the $110-113K zone will determine whether it is a healthy correction or a structural change.
Whales are taking profits after 7 months of rally 🐋 try not to become their exit liquidity.