Bitcoin: August Turns Red on Midterm History

Bitcoin has flipped red for August, reviving a historical pattern where the asset has never posted a green close during a U.S. midterm election year, according to @CryptoKing4Ever.

If the streak continues, August would mark the sixth consecutive red monthly close and reinforce seasonal weakness tied to midterm cycles.

Price action on the 4h chart shows BTC trading at $62772.49 inside the Bollinger Bands with the lower support at $62743.26 acting as immediate floor while the upper resistance sits at $64313.89; the bearish EMA50 at $63919.52 and EMA200 at $63701.49 cap upside, and the MACD death cross at -355.72 keeps momentum negative even as RSI at 32.11 remains neutral, suggesting any bounce toward the 50-EMA will likely stall before a deeper test of the lower band.