Some pretty volatile short-term price action here on $BTC… As I discussed a few days ago, if Bitcoin was able to bounce from its $80k support level and break above $82.8k, we would likely see a continuation into $85k, which is exactly what has played out! We have since seen price reject quite hard from $85k and fall back down to its support at $82.8k, which we could see act as temporary support. If we break back below $82.8k AND break the trendline that price has been forming over the past few days, then I’d expect the $80k level to be difficult for price to hold once again. Keep a VERY CLOSE EYE on price action for the rest of the week. I told y’all I had a feeling price action was going to start getting volatile again.

$BTC is hanging on the edge of a cliff… 👀 Price has once again come down to retest $80k before seeing another bounce… but this time, we have yet to see price successfully reclaim and hold above $82.8k-$83k. If price continues to fail to hold above $82.8k-$83k, the likelihood of $80k continuing to hold as support decreases significantly. If price does lose the $80k level of support, we will very likely see a pullback into the mid 70s. And if price can’t hold there, we will probably see a violent move into the low 70s. But until price breaks below $80k, we should continue to expect more chop and volatility throughout the week.

Quick update on the $BTC short term charts… 👀 Price is once again coming close to retesting that $80k level of strong support, which we have so far been able to hold over the past week. I’ve talked about this level EXTENSIVELY for well over a week now, so I won’t spend too much time discussing it yet again today. But the key things to watch for the rest of the weekend are whether $80k can continue to hold as support and whether price can reclaim $82.8k (the May local high) before we see the weekly open tomorrow. If we break below $80k, price will very likely see a strong flush into the mid 70s. Until then, we will likely continue to see more chop between the two levels I outlined above.

$BTC has seen a nice bounce from its support once again… 👀 This weekend has once again been quite slow, with Bitcoin retesting the $80k level of support before seeing yet another bounce. For this bounce and rally to truly hold, we MUST see price break back above and HOLD above $82.8k. If we continue to see retests of $80k day after day without a significant bounce above $82.8k, then it’s only a matter of time before the bulls fail to defend that support level. Keep a VERY close eye on price action this week, especially the $80k level. If we lose $80k, price will very likely see a strong flush into the mid 70s, just as I’ve been talking about over the past few weeks.

$BTC is still holding very strong support… I’m keeping this update very brief, as nothing significant has happened on the short-term charts yet again… Until we see a clear breakout above $82.8k or a breakdown below $80k, all this chop means absolutely nothing. I do think we should see some very volatile moves this week, as it’s highly unlikely that multiple weeks of this choppy price action will continue for much longer. Keep a close eye on both of the levels mentioned above. Everything else is just chop and BS.

$BTC is continuing to respect its major support at $80k… 👀 I’ve been talking about how important this $80k level is for the past few weeks now, and price action has continued to prove me correct. Yet again, we have seen price retest and bounce from $80k today, but we are still seeing more and more weakness with each bounce from that level. If we break below $80k, it is very likely that we will see a sharp pullback into the mid 70s in a very short period of time. This is the main level I’ll be keeping a close eye on over the weekend and as we head into the weekly open on Sunday evening. Keep a VERY close eye!!