$BTC has bounced back toward $64,000, but I’m still not convinced. Suddenly, everyone looks bullish because Bitcoin is moving back toward one of the most important levels on the chart.
I think this is encouraging in the short term, but weekend moves have a habit of trapping traders.
If Bitcoin can regain and hold above the $64,000 heading into next week, I think a move toward $65,700 becomes much more likely.
If it fails to reclaim this level, I wouldn’t be surprised to see a deeper pullback once liquidity returns on Monday.
I think this is encouraging in the short term, but weekend moves have a habit of trapping traders.
If Bitcoin can regain and hold above the $64,000 heading into next week, I think a move toward $65,700 becomes much more likely.
If it fails to reclaim this level, I wouldn’t be surprised to see a deeper pullback once liquidity returns on Monday.