âż Bitcoin Weekly Update
Hey everyone! đ
Not much to talk about this week since price hasn't done much! đ
On the weekly chart, BTC got rejected from the $65kâ$67k zone that we discussed in the last two weekly updates. That rejection is very clean. Bulls are still weak. đ
Sentiment is extremely positive out there and honestly I don't understand why đ Price has done almost nothing and the weekly structure still looks bearish to me. Even if price moves up to $70kâ$72k, it still wouldn't change much on the weekly timeframe.
I don't see any reason to chase the price or get caught up in the excitement on social media when the charts aren't giving me a bullish signal. Still nothing encouraging on the weekly. đđ BTC Lower Timeframes
Last week BTC was around $67k and I said any weakness there would send price back to $60kâ$62k. It dropped to $62.2k â exactly as expected. â
Lower timeframes are still range-bound.
đŽ $67k â key resistance
đą $60kâ$62k â key support
As long as price keeps trading inside this range, it's a no-trade zone for me. A breakout in either direction would likely lead to trend continuation.
Stay patient! đ§
What do you think â up or down from here? Let me know! đ
$BTC
#bitcoin
Hey everyone! đ
Not much to talk about this week since price hasn't done much! đ
On the weekly chart, BTC got rejected from the $65kâ$67k zone that we discussed in the last two weekly updates. That rejection is very clean. Bulls are still weak. đ
Sentiment is extremely positive out there and honestly I don't understand why đ Price has done almost nothing and the weekly structure still looks bearish to me. Even if price moves up to $70kâ$72k, it still wouldn't change much on the weekly timeframe.
I don't see any reason to chase the price or get caught up in the excitement on social media when the charts aren't giving me a bullish signal. Still nothing encouraging on the weekly. đđ BTC Lower Timeframes
Last week BTC was around $67k and I said any weakness there would send price back to $60kâ$62k. It dropped to $62.2k â exactly as expected. â
Lower timeframes are still range-bound.
đŽ $67k â key resistance
đą $60kâ$62k â key support
As long as price keeps trading inside this range, it's a no-trade zone for me. A breakout in either direction would likely lead to trend continuation.
Stay patient! đ§
What do you think â up or down from here? Let me know! đ
$BTC
#bitcoin
