Let’s take a look at the $BTC short term charts… 👀 As we can see here on the 4H, $BTC found support over the weekend around the $60k level and has since seen a small bounce back toward $64k. Now that we’re seeing a bit of green, a lot of the timeline is beginning to turn bullish again, which is why I want to give the two most likely scenarios: both a bull case and a bear case. The bull case is simple. We MUST break above the strong macro resistance around $65k via a weekly candle close. This level is crucial for the bulls to reclaim if we want any sort of short term rally to play out. If we do break above that level, I think we could see a rally all the way back toward the 200 EMA on the 4H. Now, in my opinion, the most likely scenario is the bear case, where we retest the $65k resistance level and then see a strong rejection. Until we BREAK that level, we must assume more downside is still in play, as we are clearly still in a downtrend. Remember not to let price action make you too emotional, especially in the short term. It’s important to stay objective and understand where the key levels for both the bull and bear scenarios lie. Keep a close eye on this chart over the coming days!