All eyes on the weekly candle as Bitcoin dips right back to last week's close.
An about-turn hadthe pair's advance after U.S. CPI data hit, and calls soon emerged for a return to $40,000 or even lower to see how steely bulls' resolve really was.
For Cointelegraph contributor Michaël van de Poppe, the results were still inconclusive, but caution was definitely needed going forward on short-timeframe trades.alongside a chart showing potential support and resistance targets. "Weekly order block rejecting in a harsh manner. Weekly candle starts to look ugly + several levels of fear across the market for coming weeks. Remaining flat at this stage."Others meanwhile called time on the potential scope of Bitcoin's longer-term downside.
"For those waiting for sub 30k $BTC, may the crypto gods be with you because the odds are not," popular Twitter commentator Credible Crypto advised.
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