Bitcoin is grinding sideways with a short-term bearish lean, which is bad for anyone waiting on a reversal but not a reason for long-term bulls to panic.

• The key number to watch is a break above about $67,200 — until Bitcoin makes a higher high there, the downtrend stays in charge.
• On the weekly chart, a long-standing support area is holding, but if it breaks, price could slide toward $50,000.
• The four-year cycle points to a possible market top and turn down around late September to early November.
• Short-term price action still shows lower highs and lower lows, so no trend change is confirmed yet.
• A small long trade left open by accident is sitting slightly in profit, but conviction is low right now.

Outlook: Expect more boring, sideways-to-lower action until Bitcoin clears the mid-$67,000s, with $50,000 the downside risk if support gives way.

## Bitcoin Levels

• **Bias:** Bearish short term, bullish long term
• **Support:** Weekly support area currently holding; deeper support near $50,000
• **Resistance:** ~$67,000 (prior rejection); lower high at ~$66,800
• **Targets:** Downside ~$50,000 if support breaks
• **Invalidation:** A higher high above ~$67,200 flips the short-term trend bullish