We are halfway into the week and $BTC has already printed a $10k weekly candle from $50k to $60k. This is Bitcoin doing Bitcoin things. The price is well above the light blue resistance line, which has been acting as strong resistance throughout the year. Bitcoin is also in a strong resistance zone between $58.8k and $61.5k. I think there will be a lot of sellers here and I would build up a short position above $60k. The price is still trending up, I think there could be a pullback at some point towards the end of the week.
$BTC Update
BTC had a strong overshoot above my resistance zone, I managed to short at $62k and will leave my shorts open. I think this could be the top, we will see how the market is trending the next few days and weeks. I think there could be a lot of downside from here. There was some suspicious activity with Coinbase, I will publish an article about that once I figure out what happened.
$BTC’s $61,561 Price Level
$BTC is showing some bullishness still, there are sellers above $62k. Right now $61,561 is the key price level, BTC is trying to find support here. I’m still bearish and still shorting. The price is up $13k in 3 days, I think it will drop back down.
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