$BTC
So far, so good.
We wicked into the weekly open but couldn’t reclaim it.
Now the key level is the psychological 80K area. If that breaks, I expect continuation to the downside toward the lower levels I mentioned, where I’ll be looking for scalp longs.
Overall, this is an important week, and the way this weekly candle closes will likely set the direction moving forward.
$BTC
Wouldn’t be surprised if next week’s candle is bearish.
We just had the first move above April’s monthly high, typically where breakout longs start getting trapped at the start of a new month.
I think 78.5K gets tested, with 74–75K also in play. After a 5 week climb, the structure looks primed for a a proper retest.