Dear Readers,

BTC faced a major correction last week. 

It was expected to fall to $ 57000. But it has dumped so much and it has even touched 49K in the lower side. 

As we have already told and mentioned in our earlier articles that once the US markets started to trade, the crypto markets are most likely to come up.

And we all should not fall prey to the week end dumps.

Even the US markets are at one side, the situations was going to oversold region.

If you see all the histories before, whenever the prices are at oversold regions, there are all the high buy points.

Whenever BTC comes to overbought regions, you can sell it as well.

This may be an ideal strategy for all your short term trades as well. 

But these are all called as lag indicators. That means this will show you only after the happenings. But it would stays for sometime in the deeply oversold region where you can watch and make your entry for buy.

And we have again learnt that we should not sell the holdings in the market crash. This has proved this time very strong again. 

It is totally agreed that all the dumps will check out your mental toughness too.

It is likely to think that we would sell at this level and buy at a lower point - in the bottom out stage of the market. 95% of the people think that only. 

We should all understand that if it is going to be a deep dump, there will be a corresponding recovery also. 

At the time of writing this article, BTC is trading at $58633, a fall of 4% from yesterday.

If we see the BTC resistant chart, 

BTC's resistances are at $ 59539 which has broken as of now.

The next resistances are at $57052, 53974 and $48999 regions. 

If we see the BTC liquidity map, the liquidity is seen at 61030 range.

The important event for this week is US CPI Data is slated for August 14.

If this is going to be positive, BTC will go up towards 70K. If it is negative, BTC will be dumped out.

Let's watch out and stay invested in the market and watch out the important levels as well.