$BTC is trading around $70,000. The weekend has closed, and now a new weekly candle begins — a fresh journey for the week ahead.
So what’s next? Let’s break down the technicals and fundamentals.
Right now, price is hovering near $70,000, with last week’s high around $78,000 and a deep low near $60,000. We’ve already seen a recovery, but in my view, BTC still needs to revisit the $63,000 zone within the next two days. From there, a quick recovery would confirm this as the bottom of this traditional bear phase.
For a proper bullish confirmation, price needs to:
Retrace around 80% of last week’s candle, near $63,000
Then recover strongly and close above the previous weekly body, around $78,000–$82,000
If we get that kind of weekly close — congratulations — that would signal the start of a bullish rally toward new highs.
From a dominance perspective, USDT.D is currently at 7.81%. I’m expecting a push toward 8.02%–8.23%, followed by a breakdown, which would support this BTC move.And where Btc goes same $ETH and $SOL will follow the same levels.
That said, this week won’t be simple. We have heavy macro data coming up, which means high volatility — and I like that. More volatility means more opportunities for scalps.
Upcoming data this week:
~Feb 10
•Core Retail Sales m/m
•Retail Sales m/m
~Feb 11
•Average Hourly Earnings m/m
•Non-Farm Employment Change
•Unemployment Rate
~Feb 12
•Unemployment Claims
~Feb 13
•Core CPI m/m
•CPI m/m
•CPI y/y
This is shaping up to be a highly volatile week.
That’s the weekly outlook. I’ll keep updating the lower timeframes, and if conditions line up, I’ll share scalp setups as well.
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