$BTC - Market Update (8/1)Bitcoin / TetherUS PERPETUAL CONTRACTBINANCE:BTCUSDT.PTealstreetBTC | 12h In the previous update, we highlighted the 65–66k region as the major trouble zone, and that's exactly where price stalled. Multiple perpetual sell walls, each exceeding $12M, capped the move, suggesting leveraged traders were consistently selling into strength. For now, I'm still leaning cautious. Price has now slipped back below the band, which may start acting as dynamic resistance. If we fail to reclaim 64-65k over the weekend, the probability of a deeper rollover increases. The 61–59k region remains my primary area of interest. That's where I'd expect a mechanical relief bounce, but what happens after that will be more important than the bounce itself. If price bounces from 61–59k and gets rejected around 62–63k, I'd view that as a sign of redistribution rather than accumulation. In that scenario, the odds increase that we sweep the local lows (spring), and that's where I'd be more interested in looking for longs. For now, I'm letting the weekend price action develop before getting aggressive. If we can't reclaim the higher resistance levels, I'd rather stay patient and wait for price to test deeper support. Enjoy your weekend!