$BTC - 1W Timeframe
Day traders can easily get caught up in the fast-paced price action that is associated with lower time frame trading, but it is always important to take a step back and look at the bigger picture. When we zoom out and examine the weekly timeframe, we first notice our range high located at about 
59K, our range low at 30k, and our midpoint at about 45k. The 59K area proved to be a very stiff area of resistance and although we broke though and had a few weekly candles which closed over the weekly/monthly level, this was ultimately just a deviation/bull trap on the weekly timeframe.
One bit of bullish hopium I can give related to the weekly chart is the fact that weekly market structure is technically still intact. As of now the weekly candles have not made a lower low and if price rises, we will be able to confirm that this was indeed a higher low before continuation to the upside. If Bitcoin can maintain weekly market structure this is still a bullish chart in my opinion.
As of right now price has been rangebound between the
52K level and the 
46K level. This is normal for price to be rangebound after a big move like the one we had a few weeks ago.
i.e., hence the weekly chart after the May 2021 price nuke.
59K, our range low at 30k, and our midpoint at about 45k. The 59K area proved to be a very stiff area of resistance and although we broke though and had a few weekly candles which closed over the weekly/monthly level, this was ultimately just a deviation/bull trap on the weekly timeframe. One bit of bullish hopium I can give related to the weekly chart is the fact that weekly market structure is technically still intact. As of now the weekly candles have not made a lower low and if price rises, we will be able to confirm that this was indeed a higher low before continuation to the upside. If Bitcoin can maintain weekly market structure this is still a bullish chart in my opinion.
As of right now price has been rangebound between the
52K level and the 46K level. This is normal for price to be rangebound after a big move like the one we had a few weeks ago.i.e., hence the weekly chart after the May 2021 price nuke.
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