Bitcoin is approaching a key weekly close.
Although $BTC briefly dipped below the previous weekly wick low around $59K, the candle body is still holding above that level as the week comes to an end.
That suggests the higher-timeframe structure is under pressure, but it hasn't fully broken down yet.
If BTC can reclaim the $65K area as support next week, it would strengthen the case that $58K marked the local bottom going into Q3.
However, if the weekly candle closes below the $59K wick level, it would be a sign that Bitcoin may still be headed for lower support on the higher timeframes.
#SaylorHintsStrategyBitcoinBuy
Although $BTC briefly dipped below the previous weekly wick low around $59K, the candle body is still holding above that level as the week comes to an end.
That suggests the higher-timeframe structure is under pressure, but it hasn't fully broken down yet.
If BTC can reclaim the $65K area as support next week, it would strengthen the case that $58K marked the local bottom going into Q3.
However, if the weekly candle closes below the $59K wick level, it would be a sign that Bitcoin may still be headed for lower support on the higher timeframes.
#SaylorHintsStrategyBitcoinBuy