$BTC weekly still looks weak.
Trading below the 50-week MA (~$88.5k) and that MA is sloping down. Historically, this has been a key trend filter. Not bullish.
Major support zone: $58k-$60k. If that breaks, downside opens up fast.
Higher timeframe structure stays bearish until we reclaim the 50-week MA. Until then, don't get cute longing the chop.
Trading below the 50-week MA (~$88.5k) and that MA is sloping down. Historically, this has been a key trend filter. Not bullish.
Major support zone: $58k-$60k. If that breaks, downside opens up fast.
Higher timeframe structure stays bearish until we reclaim the 50-week MA. Until then, don't get cute longing the chop.