Bitcoin Daily Analysis 10 JulyBitcoin/USDTOKX:BTCUSDTtradingkooroshHi everyone! Let’s dive into Day 2 of our analysis. The market structure for Bitcoin on the monthly and weekly timeframes remains unchanged. Once the weekly candle closes, we will do another top-down review from those higher timeframes. Daily Timeframe Looking at the daily chart, following the initial signs of bullish momentum loss we discussed, we saw two consecutive red candles. However, the sellers weren't even able to push the shadows of these candles down to Monday's daily candle, where the buyers showed strong presence. As a result, buyers have effectively taken control for now, and the daily timeframe continues to display signs of bearish trend exhaustion. 4-Hour & 1-Hour Timeframes On the 4-hour chart, price has printed a higher low at $61,670 and pushed up aggressively with a strong bullish leg toward the $64,100 resistance area, where it is currently consolidating. As I mentioned yesterday, we could look for a long position in the 1-hour timeframe upon a breakout of this high. However, the 1-hour breakout of this resistance line wasn't clean—characterized by long upper wicks and no lower wicks. Moreover, price hasn't formed a solid structural higher low prior to the break to give us a safe place to tuck our stop loss. Therefore, I am adjusting our resistance line slightly higher to $64,512, a level where price has previously been rejected. Note that while some traders might consider $63,830 a 1-hour higher low, I don't see enough significant price action there to validate it as a proper swing low on this timeframe; it looks more like a 15-minute structural low. Right now, candles in this current zone are showing clear signs of weakness with small bodies and multiple shadows. Therefore, my plan is to wait for a slight rejection from this area to form a clean, well-defined low. Once that structure is built, I’ll look to enter a long position as it breaks above the $64,512 resistance. As always, I’ll be looking for volume confirmation on the breakout candle. If price just pumps and breaks heavily above $64,512 without building a local base first, I will sit on my hands and wait for the market to offer a proper setup later. We should also keep another scenario in mind: price could break out strongly above this zone (with or without forming a prior low) but then end up being a fakeout, aggressively reversing back down. If this fakeout scenario plays out, I will wait for price to trade back down toward $61,755, where I’ll look for short setups. However, if this bearish scenario unfolds, I don't expect it to happen today; it’s more likely to play out over the coming days. I hope you enjoyed today's update and find it helpful. As always, never forget to prioritize your risk and money management!