03/02/25 Weekly outlook
2025-02-03
Category: None

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. 
