Today, $BTC closed its weekly candle below the important BOS level and macro resistance at $65.7k-$66k, which once again leaves the macro bias objectively bearish.
I’ve said this many times, and I’ll say it again, until we reclaim $65.7k-$66k via a weekly candle close, it is objectively incorrect to expect higher prices on the macro.
With that being said, once $65.7k-$66k IS broken, the opposite would also be true, it would be objectively incorrect to expect further downside over at least the next few weekly candles following the breakout.
This is THE most important level in my eyes from a macro perspective, and until it’s broken, this short term rally is nothing more than short term noise. Keep a VERY CLOSE eye on this level as we head into the new week!
