Bitcoin starts the week with a heavy macro calendar ahead. Today we have the ISM Services release at 4:00 PM CET, while Trumpโs Iran deadline has been pushed to Tuesday evening. The rest of the week brings Durable Goods on Tuesday, FOMC Minutes on Wednesday, Core PCE, GDP, Personal Income and Spending on Thursday, and CPI plus Michigan Consumer Sentiment on Friday. With the NYSE open but London closed, the session may begin slowly and become more active once New York trading picks up.
Market action over the weekend was mostly quiet until a Sunday night move pushed BTC quickly up to 69.5k and reclaimed the prior weekly high. The expansion appeared to be driven by Coinbase and Binance buying, Bybit selling, and a rise in open interest. Despite the move, Bitcoin still appears broadly range-bound. Last week price tested the lower end of the range and has now rotated back toward the highs, with the prior monthly low holding and potentially marking the monthly bottom. The key resistance area sits around 70kโ71k; a sustained move above the upper resistance zone would shift the outlook more bullish, but that is not yet the base expectation.
From a trade perspective, long interest sits around 68,650, 67,800 and 66,000, while potential short areas are 69,900 and the 70.4kโ70.9k resistance zone. Losing 68,650 without a quick reclaim would favor shorts toward lower support, while holding current structure could allow a push toward 69,900 first. Acceptance above the higher resistance zone would open the path toward 72k and signal stronger momentum. ETF flows remain quiet with the last noted print at $9M, open interest increased by roughly 6.5k BTC, and positioning appears mixed with both longs and shorts building. Overall the move still looks more like range rotation than a clean breakout.
Zooming out, last week printed an inside week and the market has already reclaimed that high, but price still behaves more like a range than a trend. By mid-week the direction should become clearerโeither setting a high and rotating lower again or breaking into a stronger upside move. For now, resistance between 69.9k and 70.9k remains the key area unless momentum improves significantly. Traders are advised not to assume strength simply because the prior weekly high was reclaimed, to avoid trading the middle of the range, to respect downside risk if 68,650 fails, and to focus on cleaner opportunities at the range extremes. Watch my video below to learn more, and if you want to go deeper, Iโm hosting a free live masterclass that you can join at no cost.
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