I remain short on Bitcoin until 99.5K unless the price reclaims last week’s close at 102.5K. Both my daily and weekly bias remain bearish, with BTC already crossing yesterday’s low and last week’s close.
Bitcoin tends to pump on weekends when traditional markets are closed. A bounce wouldn’t be surprising, but confirmation of a shift would require a 15m impulsive move to the upside or a bullish market structure change above 102.5K and 103.2K.
Two possible outcomes:
1. A low-volume pump to 104.6K, aligning with Bitcoin’s typical weekend behavior in low-liquidity conditions.
2. A direct drop to 99.5K as support.
I don’t trade weekends, as crypto often reacts more to speculation than real data when liquidity is low.
Bitcoin tends to pump on weekends when traditional markets are closed. A bounce wouldn’t be surprising, but confirmation of a shift would require a 15m impulsive move to the upside or a bullish market structure change above 102.5K and 103.2K.
Two possible outcomes:
1. A low-volume pump to 104.6K, aligning with Bitcoin’s typical weekend behavior in low-liquidity conditions.
2. A direct drop to 99.5K as support.
I don’t trade weekends, as crypto often reacts more to speculation than real data when liquidity is low.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.