Hello traders,
Bitcoin is showing signs of structural weakness after failing to hold the Weekly Open. This rejection suggests the market is entering a “New Range” phase, with the potential for a deeper correction if bulls can’t reclaim key pivots
💡Trade Sentiment
The close below the Weekly Open is a bearish signal in the short term. We are likely looking at two main scenarios:
Range Bound: Price chops between $66k and $67.8k to build liquidity.
A Rejection: A weak move into the $67.3k area followed by a sharp rejection, confirming a move toward the $63k-$64k
🔑 Key Levels to Watch
Resistance: $67,300 – $67,865 – $71,359 – $72,000
Support: $65,979 – $64,000 – $63,000