$BTC 📊
This week’s candle close will be decisive.
If we leave the weekly Value Area here, we can likely expect further local value rotation lower. Therefore, holding here is crucial for any further upwards potential.
On the higher timeframe, a weekly close above the key high at 82.8k would also strongly support the bullish thesis.
Historically, however, simply wicking above the high has not been a major decision point and hasn’t carried much weight on a weekly structural basis.
That said, it’s certainly something we need to keep in mind; especially when looking at the next retracement opportunities.
For now, my base case remains a choppy Saturday, so I will update at the EoW with the final conclusion 🫡
$BTC
This week’s candle close will be decisive.
If we leave the weekly Value Area here, we can likely expect further local value rotation lower. Therefore, holding here is crucial for any further upwards potential.
On the higher timeframe, a weekly close above the key high at 82.8k would also strongly support the bullish thesis.
Historically, however, simply wicking above the high has not been a major decision point and hasn’t carried much weight on a weekly structural basis.
That said, it’s certainly something we need to keep in mind; especially when looking at the next retracement opportunities.
For now, my base case remains a choppy Saturday, so I will update at the EoW with the final conclusion 🫡
$BTC
