$BTC is still struggling to hold above the weekly 100EMA… 👀 With price action being very choppy in the short term, it’s better to zoom out and look at the HTF support and resistance, which will give us a better understanding of why price is struggling to see a strong continuation higher or a strong breakdown. And when we zoom out, we can see that price is currently retesting a MAJOR macro resistance level at the 100EMA, around $78.5k. This is why the short term price action has become so unbelievably choppy over the past few days, since a breakout OR rejection of this level would be highly consequential. If we break out above the 100EMA, it’s essentially one of the last confirmations needed for the macro bull market to truly be in play. But if we start to reject from this level and fall below $76k, then we will likely see a continuation lower to retest the 50EMA around $70k. So right now, short term price action is a direct result of macro support and resistance being heavily in play. I’d keep a very close eye on these levels as we continue through the week!