BTC at week OB zone

8 maj 2022Bitcoin touched Week bullish Order Block zone at 31780-34260. As I wrote before current dump can potentially take it down to 28k. Critical level - week close above 31.8k - and that is not only for this week but all the following weeks until the bounce happens (if it ever will happen above that level). If any week candle close below - next will be 17-20k.

P.S. At this moment I do not see any activity from the bulls and greater dump scenario is very much possible.

🟥 35250 - 37000 - 37630
🟩 34300 - 32900 - 31600

😱 F&G: 18 <= 23 <= 22 <= 27
💩 Alts: 5% < 5% < 5% < 4%


One more thing to remember - CME closed at 36065. If on Monday open BTC price will be anywhere below that value we may expect pump back in order to close that gap before next collapse.



And just a reminder about my macro view on Bitcoin. BTC drop to ~25k ain't something impossible or too far to ignore on month timeframe. But if cycles work same way they did before, Bitcoin will be above 100k in 2024 and probably much higher in 2025 😎

10 maj 2022

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CME gap formed.

11 maj 2022

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