@damry
👋 Welcome everyone, and happy start of the new week
This week looks like it’s going to be a very interesting one
At the start of the week, price updated a local high at $79,485
⚫️ Market cap: $2.59T
⚫️ BTC dominance: 60.67%
⚫️ Fear & Greed Index: 47 (Neutral)
Price has taken the previous high and is now showing the first signs of weakness, absorbing the upward move
📊 It seems like we just need a break and consolidation below $76,960 to confirm a potential short setup.
However, it’s not that simple the current local high on CME hasn’t been taken yet, so another push higher is still possible
Right now, the key level to watch is $76,960 either we get a reaction from it or a confirmed breakdown below
❗️The key event this week is the FOMC meeting on April 29, which will be Powell’s last one. Rates are expected to remain unchanged, but the main focus will be on the tone of the press conference and his final remarks
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