Once again, we saw Bitcoin reject from above $68k as it struggles to even retest the $68.8k (Weekly Open) level. I am watching this rising channel pattern (orange trendlines) because if this breaks down then there is a good chance we see $65k again over the next week. Something else to be aware of is the weekly EMA200 which is currently sitting in the $68.5k area- if the candle closes below that this week it would be the first time since September 2023.
Since Bitcoin reclaimed $67.2k (Monday Low) yesterday, this has been defended at every 4hr close even during the tariff volatility. BTC still struggling to gain any momentum above $68k which leaves us in a pretty choppy range and, with it being a Saturday, there is a good chance this continues today. As long as $67.2k is being respected on the 4hr chart, a push to test $68.8k (Weekly Open) before the end of the week seems likely.
After Bitcoin broke from the falling wedge to the upside, we have seen the first signs of bullish momentum in a while. $67.2k (Monday Low) was finally reclaimed, and is holding as 4hr support, but that recent 4hr close was not the best- A significant rejection from $68k, and only just about maintaining the Monday Low. I wouldn't be surprised to see $66.5k swept again today, but the key upside resistance to look for is $68.8k (Weekly Open) and then $70.1k (Monday High).
After Bitcoin lost $67.2k (Monday Low) on the 4hr chart yesterday, we can see this has flipped to resistance with a bearish retest of that exact level. BTC is trading in this clean falling wedge, and until this is broken to the upside then we have to assume that creating another Lower Low towards $65k (Prev Week Low) would be the logical next move. I will be watching for either a breakout or the reaction at $65k during the US session today.
Bitcoin swept $66.6k yesterday and there was a strong reaction from this price, but BTC has not even managed to retest $68.8k (Weekly Open) which we know is 4hr resistance. $67.2k (Monday Low) has been tested a number of times and continues to be respected at each 4hr close and, all the time this holds, we can see a retest of $68.8k and even $70.1k (Monday High.) Any break down from $67.3k and I will be looking for opportunities towards $65k.
Bitcoin continued to move sideways in a tight range whilst the US markets were closed yesterday. We can see very clearly that $68.8k (Weekly Open) is now strong 4hr resistance for BTC, with multiple candles rejecting from this level. The bigger range to watch for a breakout in either direction remains $65k to $71k.4k, but for now I will be watching how Bitcoin reacts on any tests of the Monday Range at $67.2k (Monday Low) to $70.1k (Monday High.) Low volumes currently, but this could pick up in the US session.
Coins showing volatility this morning: COTI, TAO, C98.