$BTC weekly close has happened, and it was really bad.

Bitcoin closed below both the 50W EMA and 50W MA, and that too with a bearish engulfing candle.

Now everything depends on this week, as the Clarity Act voting and the Fed's interest decision will happen.

If a red close happens, there's a decent chance Bitcoin will drop below $70K.

And if $70K fails to hold, BTC will likely end up reversing all their gains.