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BTCUSD Oversold Condition Signals Bounce Bitcoin, often referred to as "digital gold" or simply "BTC," is the leading cryptocurrency and is commonly paired with the US Dollar (USD) in the forex and crypto markets. The BTC/USD pair is known for its high volatility and strong reaction to both macroeconomic news and cryptocurrency-specific events, making it a favorite for traders focused on price action, market sentiment, and technical analysis. From a fundamental perspective, today's focus is on two key USD-related events. First, the Factory Orders report from the US Census Bureau will shed light on the change in total value of new purchase orders, which acts as a leading indicator of production trends. A stronger-than-expected figure could signal bullish sentiment for the USD, putting downward pressure on BTC-USD. Second, the Senior Loan Officer Survey from the Federal Reserve, though more qualitative and released less frequently, could provide insights into credit conditions and overall economic confidence. If loan standards are loosening and demand is strong, it may reflect a resilient US economy, favoring USD strength. As BTC often moves inversely to USD, both releases could prompt short-term volatility for the BTC/USD daily chart. Image Chart Notes: • Chart time-zone is UTC (+03:00) • Candles’ time-frame is 4h. On the BTC/USD H4 (4-hour) chart, price action shows a bearish descending channel forming since the July 14th high. The candles have been moving in a slightly downward horizontal range, but price has just tested the long-term ascending trend line and the lower bound of the descending channel, both acting as strong support. A green candle has now formed, suggesting a potential bullish reaction. However, the price remains below the Ichimoku Cloud, which is currently aligned near the upper band of the channel, indicating that upward momentum may face resistance unless a breakout occurs. The %R indicator reading of -90.08 signals an oversold condition, often interpreted as a potential reversal zone, especially when supported by price structure and trendline confluence. Traders watching this BTC/USD 4-hour chart might expect a corrective bounce or even a breakout attempt, depending on incoming fundamental catalysts like today’s USD news. • DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes. Capitalcore