#BTC Weekly Outlook - Are Bulls Finally Back? ๐
Quick take:
๐ธPrevious bearish path got invalidated โ, but the
#altcoin dip/rip roadmap played out as flagged.
๐ธHigherโtimeframe bias: Monthly trend still bullish; current phase = consolidation/neutral.
๐ธWeekly momentum improving, but confirmation still needed.
Key levels Iโm watching:
๐Confidence trigger: Weekly close above $116,080 โ
๐Extension trigger: Clean break and close above $119,500 โ opens room for another leg up ๐
๐Local danger zone for bulls: $119,500โ$120,500 supply; expect reactions here โ ๏ธ
Structure map:
๐ข Bullish consolidation & potential priceโdiscovery valid while above $107,000
๐ด If $107,000 fails โ watch $104,000 โ $100,000 โ $98,000 โ $92,000 for supports and reactions
Shortโterm plan (intraweek):
๐Baseline expectation: pullback/retest toward ~$116,000 before any sustained push ๐
๐นBearish RSI div on H1
๐นOverbought conditions
๐นNo clean retest of prior weekly level yet
๐นConfluence with previously marked resistance zone
-If we consolidate above $116K with rising volume โ constructive for bulls.
-Rejection from $119.5โ$120.5K without volume = likely fade first, then reassess.
Risk management:
๐ธInvalidation for aggressive longs: decisive loss of $116K on volume.
๐ธConservative invalidation: loss of $107K HTF close.
As always: scale in/out, use stops, position size for volatility.
๐กTo sum up:
At resistance, without a volume-backed breakout, โanything can happen.โ
-Bias: Shortโterm pullback ๐๐ด; mediumโterm constructive while -HTF supports hold.
Im taking a short position: 119,000 -> 116,500$
#DYOR #BITCOIN #BTC