Last weeks high: $108,531.02
Last weeks low: $99,592.69
Midpoint: $104,061.86
Overall a positive week for BTC in isolation as price moves steadily all week reclaiming the losses made in the week from the 16th-23rd June. This comes after a $2.2B BTC ETF weekly inflow, the 3rd consecutive week of net inflows.
Having now hit the key S/R level of $108,500 it will be interesting to see where BTC goes from here. Jumping up above the level will require a lot from the bulls as ATH is within touching distance and so buying into major resistance is a tough ask. We also have Geo-political uncertainties to add to the situation, one bad tweet is all it takes sometimes to do a lot of damage.
On the other hand the SNP500 hits new ATH in the same conditions and so BTC is more than capable of doing the same.
So far in the first hours of this weeks trading we do have a SFP of the weekly high setup, not ideal for the bulls in any way and so from here the a retest of the range quarters, midpoint being the key area would make sense, invalidation would be a clean break above weekly high with acceptance and strong volume on the move to break the rangebound/choppy environment.
There is also the "window dressing" element to the months &quarter end today. History shows a de-risking going into these events and more money flowing back into risk-on assets in the days following monthly/ quarterly end. For that reason a bullish move (if there were to be one) would come later in the week IMO.
Good luck this week everybody!
Last weeks low: $99,592.69
Midpoint: $104,061.86
Overall a positive week for BTC in isolation as price moves steadily all week reclaiming the losses made in the week from the 16th-23rd June. This comes after a $2.2B BTC ETF weekly inflow, the 3rd consecutive week of net inflows.
Having now hit the key S/R level of $108,500 it will be interesting to see where BTC goes from here. Jumping up above the level will require a lot from the bulls as ATH is within touching distance and so buying into major resistance is a tough ask. We also have Geo-political uncertainties to add to the situation, one bad tweet is all it takes sometimes to do a lot of damage.
On the other hand the SNP500 hits new ATH in the same conditions and so BTC is more than capable of doing the same.
So far in the first hours of this weeks trading we do have a SFP of the weekly high setup, not ideal for the bulls in any way and so from here the a retest of the range quarters, midpoint being the key area would make sense, invalidation would be a clean break above weekly high with acceptance and strong volume on the move to break the rangebound/choppy environment.
There is also the "window dressing" element to the months &quarter end today. History shows a de-risking going into these events and more money flowing back into risk-on assets in the days following monthly/ quarterly end. For that reason a bullish move (if there were to be one) would come later in the week IMO.
Good luck this week everybody!
ملاحظة
First tap of the 0.75 line, as Q2 closes it's clear nobody wants to deploy meaningful capital, chop until the end of the week makes sense from here. ملاحظة
Looks like the "Window dressing" is over and BTC is on the move again.Flipped the weekly high and retested as new support. Heading into some HTF resistance now, can this be the breakthrough finally?
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.