$BTC is still holding very strong support… I’m keeping this update very brief, as nothing significant has happened on the short-term charts yet again… Until we see a clear breakout above $82.8k or a breakdown below $80k, all this chop means absolutely nothing. I do think we should see some very volatile moves this week, as it’s highly unlikely that multiple weeks of this choppy price action will continue for much longer. Keep a close eye on both of the levels mentioned above. Everything else is just chop and BS.

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$BTC has seen a nice bounce from its support once again… 👀 This weekend has once again been quite slow, with Bitcoin retesting the $80k level of support before seeing yet another bounce. For this bounce and rally to truly hold, we MUST see price break back above and HOLD above $82.8k. If we continue to see retests of $80k day after day without a significant bounce above $82.8k, then it’s only a matter of time before the bulls fail to defend that support level. Keep a VERY close eye on price action this week, especially the $80k level. If we lose $80k, price will very likely see a strong flush into the mid 70s, just as I’ve been talking about over the past few weeks.

Quick update on the $BTC short term charts… 👀 Price is once again coming close to retesting that $80k level of strong support, which we have so far been able to hold over the past week. I’ve talked about this level EXTENSIVELY for well over a week now, so I won’t spend too much time discussing it yet again today. But the key things to watch for the rest of the weekend are whether $80k can continue to hold as support and whether price can reclaim $82.8k (the May local high) before we see the weekly open tomorrow. If we break below $80k, price will very likely see a strong flush into the mid 70s. Until then, we will likely continue to see more chop between the two levels I outlined above.

$BTC is continuing to respect its major support at $80k… 👀 I’ve been talking about how important this $80k level is for the past few weeks now, and price action has continued to prove me correct. Yet again, we have seen price retest and bounce from $80k today, but we are still seeing more and more weakness with each bounce from that level. If we break below $80k, it is very likely that we will see a sharp pullback into the mid 70s in a very short period of time. This is the main level I’ll be keeping a close eye on over the weekend and as we head into the weekly open on Sunday evening. Keep a VERY close eye!!

$BTC is hanging on the edge of a cliff… 👀 Price has once again come down to retest $80k before seeing another bounce… but this time, we have yet to see price successfully reclaim and hold above $82.8k-$83k. If price continues to fail to hold above $82.8k-$83k, the likelihood of $80k continuing to hold as support decreases significantly. If price does lose the $80k level of support, we will very likely see a pullback into the mid 70s. And if price can’t hold there, we will probably see a violent move into the low 70s. But until price breaks below $80k, we should continue to expect more chop and volatility throughout the week.

Very brief look at the $BTC short term charts… Not much has changed over the past 24 hours, with a pretty low volume day overall. Price has once again reclaimed $82.8k, as this level CONTINUES to be HEAVILY respected, just as it has been over the past few weeks. Once again, the main level that matters is $80k holding as MTF support. Otherwise, we will likely see a very strong dump continue. It’s only a matter of time before we see one of these major levels, which have been respected over the past few weeks, get broken, so keep a VERY close eye!

My thesis on the $DXY is still going according to plan… 👀 With the weekly candle holding strong right around the 200EMA, my expectation is that we still have higher to go as we get later into the year. I’m expecting this rally to take us into the next level of resistance around 103-104. As we all know, the $DXY has a very strong inverse correlation with risk assets, which would mean a rally in the $DXY would likely result in a dump across risk assets. This would line up perfectly with my expectations of specifically $BTC and the stock market finding their cycle lows later this year as the $DXY continues to rally. This is a strong macro chart that I’ll be keeping a very close eye on. Once we see the next strong breakout here, I’d expect the next major breakdown across risk assets to begin.

$BTC is still holding on for dear life to its final major levels of support. Over the last 24 hours, price has come close to retesting $80k, which I’ve been talking about as the final level of support before price potentially dumps into the mid $70ks. We are also now seeing the bulls rally to try and reclaim $82.8k after price failed to hold that level heading into the new week. The move that would trigger a major dump into at least the mid $70ks would be a break below $80k. So that’s the level I’ll be watching the closest over the coming days and weeks!

$BTC is still facing major resistance in the short term… Price action hasn’t seen much of a crazy move over the past 24 hours now that the weekend is here, but we can see that price has moved back up and is currently sitting at MAJOR resistance. $82.8k to $83k is still acting as very strong resistance ever since price failed to hold that level as support earlier this week. We have also seen a strong drop in volume and a decrease in volatility over the weekend, so it’s safe to say we probably won’t see price make a decisive rejection or breakout until closer to Sunday evening and the opening of the new weekly candle. Still keeping a VERY close eye on this level, which is by far the most important level to be watching right now!

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$BTC is struggling to break back above $82.8k… 🫪 I’ve been talking about the $82.8k level EXTENSIVELY over the past few months, as this level is where we saw the May local highs, and ever since, it has acted as strong macro support AND resistance. Now that price has broken back below $82.8k, like I mentioned yesterday, we MUST see the bulls reclaim this level if we don’t want to see a deeper correction. But over the past few hours, we have seen price reject from $82.8k, which means we will likely continue to see price move back towards $80k over the next few days. If we break back below $80k, I wouldn’t be surprised if the next level where price finds support is $75k. Keep a VERY close eye on price action as we head into next week!

$BTC has officially broken down from its horizontal neutral range… 👀 Just like I said in yesterday’s post, once we saw a break of $82.8k, we would likely see a strong surge in volatility and price correct at least into support at $80k, which is EXACTLY what has played out. Now that the horizontal range has been confirmed broken and our first support target has been reached, there are a few levels I’m going to be watching. If price can break back above $82.8k, it will be a VERY strong sign for the bulls, as a reclaim of that level would suggest that the bulls have successfully absorbed all selling pressure below the prior neutral range. But if we break back below $80k, this would mean the bulls have FAILED to suppress selling pressure below the prior neutral range, and we would likely see a continued dump into the mid $70ks. I’m keeping a VERY close eye on both of these levels as we head into the weekend, especially the daily and weekly closes.

$BTC is witnessing the bottom of its neutral range get retested… After yesterday’s strong short term flush, we have since seen that dump continue, with price now retesting $82.8k. This is an EXTREMELY important level that, if broken, could see price dump significantly into levels of prior macro support. The first level I’d keep an eye on if we break $82.8k would be $80k, and if that breaks, I’d target the mid 70s for strong support. But until we see $82.8k broken with a strong surge in volume, the range we are in is STILL neutral. So don’t jump the gun on any trades until we see confirmation.

Starting to see some more volatility here on $BTC. Like I talked about in yesterday’s post, since price has failed yet again to break the range highs of this natural consolidation, we are now seeing price move back towards the bottom of that range. After we broke below $85k, which has been a key support AND resistance level in this range, we have seen some strong volatility, with price pushing back below $84k. But like I’ve said in the past few posts, none of this short term chop is bullish or bearish until we get a break of the range. Once we see a break in either direction, we should expect to see some strong macro volatility.

$BTC is still trading in a very strong sideways consolidation… As we can see, over the past few days, $BTC has retested the highs at $87k TWICE, rejecting both times. If we continue to reject hard here from the highs, expect the range lows at $82.8k to be retested soon as well… Short term price action is very neutral at the moment, and until we either see the range highs get broken or the range lows get broken, we will continue to see this chop. Once the range is broken to the upside or downside, we will likely see a strong surge of volatility alongside massive liquidations. Keep a very close eye on these levels, as we could be loading up for a MASSIVE move very soon!

$BTC has seen some very predictable short term price action here… 👀 Over the past 48 hours, we have seen price break back above $85k, which triggered a strong move and rejection RIGHT at the range highs, exactly like I was expecting! We have since broken back down from $85k, which is now being retested as a level of resistance. I wouldn’t be surprised if we saw another retest of the range lows around $82.8k, as we saw a strong rejection from the range highs. Now that price has both broken out AND broken down from $85k, the new natural range that price action has created is between $82.8k and $87k. Until we see a breakout or breakdown from these levels, the short term is neither bullish nor bearish. Keep a VERY CLOSE eye on these levels as we head into the weekly close!

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