Bitcoin Bounces Back! Chaos, Clowns & Crypto in a Wild Ride 🚀

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Once upon a weekend, Bitcoin (BTC) decided to do the jolliest somersault, plunging all the way down to a shy little support at $112,000 — probably to give the market a good fright! Perhaps it was due to the US’s latest Tariff Tango and Jobs Data Jumble, which made all the traders clutch their pearls and sell like lunatics. Is this the worst? Or just another day in crypto Wonderland? Who knows! 🤷‍♂️

The US Stock Market: Just a Slight Bad Hair Day?

The US stock market, that crazy rollercoaster, took a nosedive too — the S&P 500 flopped by 1.6%, as if it saw a ghost or remembered it forgot its umbrella in a rainstorm. The chart shows it might just be a *normal* wobble, or perhaps the start of something more mischievous. Either way, the bulls still have this week to pull their socks up (or face the music). 🎶

But when US stocks stumble, Bitcoin gets all panicky and sells off like a cat seeing a cucumber. Weekend trading was a frenzy — Binance and Coinbase, that sneaky duo, used the chaos to kick out the long traders with all the grace of a herd of elephants in a porcelain shop. 🐘🔪

$BTC Rocks a Bull Flag — or Does it?

The 4-hour chart shows Bitcoin took a wild dive — down to the dreadful $112,000, that ominous bear target I mentioned earlier. Then, lo and behold, it bounced back from this chilly support like it had a secret superpower. Now, it’s cozy inside a bull flag. Fancy, huh? But beware! The indicators are screaming “Uh-oh,” and it might just be a temporary wink, not a full-blown party. 🥳

If it slips below $112,000, there’s a backup plan — strong support at $109,000, with Fibonacci’s secret stash at $108,000, just in case a wick decides to play a game of “how low can you go?” If that happens, we might just call this correction a done deal. Or so we hope. 🤞

The Great Price Structure Test

On the daily chart, Bitcoin tiptoed right onto the top of its old bull flag — a test, like trying on a shirt to see if it still fits. Traders panicked but looked at the structural puzzle with a keen eye. Turns out, this might just be a sturdy stepping stone for the rally. Or a precarious tower waiting to topple. Who can say? It’s all a game of chess, not checkers. ♟️

Weekly Wobbles — Style & Sass

Zooming out to the weekly view, the bounce from $112,000 looks promising, like a puppy wagging its tail. But wait! The previous bearish candle still looms — a giant shadow, ready to pounce if the bulls don’t step up. Indicators are wiggly — some saying GO, others saying NOPE, with RSI and MACD throwing in their confused opinions. It’s a chaos cocktail, really. 🍸

And just as we all love a good drama, the market might need one more little shove — a dip to $109,000 — before everything calms down and the structure holds firm. Or maybe, just maybe, things will get even more wibbly-wobbly before the chocolate fudge melts. 🍫

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2025-08-04 13:12