bitcoin:native Happy Saturday everyone, make sure to enjoy it! We are currently at an interesting spot, so here is a quick weekend update on how I am viewing Bitcoin. Price is still trading within the local range inside the broader range, and I currently see two main scenarios: Bitcoin deviated above the range highs last week, accepted back inside the range and shifted bearish on the lower timeframes. The current move could simply be a bearish retest of the range highs before continuation towards the other side of the range. Or price continues to respect the broader bullish market structure, with last week’s dump simply forming a higher low before another push towards the $66k supply and the range highs. How am I looking to trade this? If the bearish PO3 scenario is going to play out, price has no business moving above $64.5k in my opinion. The last internal supply has already been taken, leaving a clean invalidation for the bears. Either price rejects and moves down soon, or a proper reclaim of the range highs will likely lead to new highs. For the bullish continuation scenario, price should respect the local lows and form another higher low before pushing towards a higher high. Local price action should provide strong clues as to which scenario is playing out. I will be watching for clear strength or weakness through a local three-drive setup or lower-timeframe structure confirmation. Next week looks promising, with several solid potential setups starting to develop. Enjoy the weekend!