BTC Weekly Technical Analysis by Mako Sharks

Bitcoin kicks off the week at 108.2k and as it seems keeps heading for a test of the 100k support! New week, same idea, same question! Low/mid 100k and a bounce or a fresh dive below this key support level?! Bulls & Hopium or Bears & Anxiety?!🐻 ⏱ 🐂

For the Bulls things do not change much neither as for Bears, monthly closure below 111.9k but yet above 100k, key question remains can Bulls defend the 100k zone and fly towards uncharted territory once more or Bears will put Hopium in slow motion and shake the market and remind participants once more whats fear and why keep feet on the ground while head is in clouds.

Ideally for the Bulls and Hopium we want to see any successful daily closure above PWH 113.6k otherwise any bounce resulting as another Bearish retest and of course the main quest remains to defend 100k! Bulls still got upper hand and strong chance to defend it due many different confluences mentioned in previous analysis. 📈 😎 🔼

Fate already sealed as all (im)patiently wait for the low/mid 100k zone and its reaction. No changes, key quest still the same to force a loss of 100k as support which would shake the market and potentially open doors for 90k or lower.

Until then Bears remain in patience mode as short term outlook points toward further downside into the “mystic” 100k area of interest.🍿 🧛 🍞