Bearish market trend still intact as price has been rolling over into our weekly support range. Here we would expect bulls to aggressively bid any candle wicks below the range as previously seen twice in June to give any indication of a relief bounce on the weekly time frame. Volatility remains very low as there is indecision within the market and usually indicates a more aggressive move when direction is found.
👀 What to watch is this weekly candle close to try gain directional bias on the market
🔼 Targets if we bounce are the $42 — $45K region
�� Targets if we breakdown are both $27K & $24K
Sectors vs $BTC
Left Chart: DeFi/BTC | Ratio Bearish retest and rejection
Right Chart: NFT Eco/BTC | Significant outperformance, very bullish
Curated News 📰
- BlackRock FUD regarding client interest
- An Ethereum documentary is being made
- Entertaining Uniswap governance drama
- TokenSets launched on Polygon
- Uniswap alpha launch on Optimism
- Superfluid $9M raise for programmable money streams
- Bybit derivatives exchange launches spot trading
That’s it for the TLDR, enjoy your day!