03/02/25 Weekly outlook
Last weeks high: $106,485.24
Last weeks low: $100,995.99
Midpoint: $95,506.74
As the US begins a tariff trade war on the world, BTC ends the previous week with a weekend selloff back into the range low of $91,000. Despite the crypto world being everchanging this range low level has held strong for nearly 3 months now.
Because of this strong support level we have seen many weekly outlooks follow the pattern of an early break below weekly low, then reclaim and rally back up the range throughout the week. Could this be the case once again?
Currently sentiment is terrible, probably bear market levels of depression despite Bitcoin being above 100K most of the time. I think this is largely due to the state of altcoins as they are at pre-US election lows, in some cases bear market levels... This plays havoc mentally which so much was promised in terms of alt season potential now that Bitcoin is a new highs. In reality the market will do what hurts the most, max pain.
Having said that, generally a weekend dump can be misleading due to low volume and the absence
of institutional buying making any manipulated move much easier to pull off from a market makers point of view.
There are some nice 4H TF setups emerging, now the macro environment is definitely calling the shots in the Tradfi world but as long as the $91,000 holds the rangebound move is still in play.
Last weeks low: $100,995.99
Midpoint: $95,506.74
As the US begins a tariff trade war on the world, BTC ends the previous week with a weekend selloff back into the range low of $91,000. Despite the crypto world being everchanging this range low level has held strong for nearly 3 months now.
Because of this strong support level we have seen many weekly outlooks follow the pattern of an early break below weekly low, then reclaim and rally back up the range throughout the week. Could this be the case once again?
Currently sentiment is terrible, probably bear market levels of depression despite Bitcoin being above 100K most of the time. I think this is largely due to the state of altcoins as they are at pre-US election lows, in some cases bear market levels... This plays havoc mentally which so much was promised in terms of alt season potential now that Bitcoin is a new highs. In reality the market will do what hurts the most, max pain.
Having said that, generally a weekend dump can be misleading due to low volume and the absence
of institutional buying making any manipulated move much easier to pull off from a market makers point of view.
There are some nice 4H TF setups emerging, now the macro environment is definitely calling the shots in the Tradfi world but as long as the $91,000 holds the rangebound move is still in play.
Note
Already back to 0.25 after reclaiming the weekly low. This pattern keeps playing out and can be seen on my previous weekly outlook posts.
Plan is invalid when weekly low is lost and cannot be reclaimed.
Note
Midpoint hit!
Sweep and reclaim in full swing yet again. Looks like the weekend sell-off has nearly fully recovered.
Note
Testing the 4H 200 EMA as resistance.Note
strong rejection off the 4H 200 EMA so far, really weak price action on the LTF.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.