I mentioned that Bitcoin will enter a negative path after breaking the 28,200 resistance that we have been following in the past weeks, and unfortunately it has been progressing for a while.
![](https://www.technopixel.org/wp-content/uploads/2023/08/danger-bells-continue-to-ring-in-bitcoin-0-UauGmI3I.png)
On the Bitcoin/USD side, unfortunately, we can see that there is a negativity at a glance in this way. Breaking the trend support, losing Chikou and turning kumo into resistance… I think that the only support we can see on this chart right now is tenkan (dotted blue line) and if it is lost, it will target supports 24-20k respectively.
![](https://www.technopixel.org/wp-content/uploads/2023/08/danger-bells-continue-to-ring-in-bitcoin-1-KLE87urH.png)
Negativity is also seen in the daily Bitcoin chart. Chikou is lost, lost to the sand. There is no positivity here either, unfortunately, but if there is a sudden rise, 27.9 will work as resistance, this is the level where chikou and kumo were lost and retest is possible, but my main direction is now down.
![](https://www.technopixel.org/wp-content/uploads/2023/08/danger-bells-continue-to-ring-in-bitcoin-2-ujvazDiU.png)
Bitcoin h4 chart was trying to gain the kumo resistance yesterday but failed and the h4 chart turned negative. Currently, 26.1 level is followed as resistance. We see a buy order at 25.5-25.8, I think it can fall to those levels and get a reaction, but not go beyond 26.1.
![](https://www.technopixel.org/wp-content/uploads/2023/08/danger-bells-continue-to-ring-in-bitcoin-3-xRahBdLD.jpg)
The charts are negative as such, but the markets continue to await the outcome of the Grayscale ETF lawsuit and other ETF decisions. It does not have a clear date, but it is expected to be announced days later, and this is an important decision that will definitely change the direction of the market. If it is Postponed/Rejected, the price charts will follow, so a fomo can start only if the negativity is accepted. If we’re just going to interpret graphics, I’m negative.