Key points:

• Bitcoin prices steady Monday
• Weekend run fades quickly
• What’s ahead for the week?

Orange coin is seeking momentum as prices start the new week muted.

📉 Weekend Pop, Monday Flop

• Bitcoin BTCUSD made it to $70,000 over the weekend, then quietly slipped back to earth. Early Monday, the OG crypto hovered near $68,500 after failing to hold above the psychological $70,000 line, a level traders treat like a badge of bullish honor.
• The move lower followed a break beneath $69,200 support, with price briefly tagging $68,000 before stabilizing. In plain English: buyers showed up late, sellers showed up early, and momentum faded fast.
• On the hourly chart, BTC is trading below its 100-hour simple moving average, a short-term trend gauge. When price sits under it, momentum tends to lean bearish unless buyers reclaim it quickly.

🧭 Key Levels on Deck

• Immediate support sits around $68,000 to $68,400. A clean break below that zone could open the door to a deeper slide toward the mid-$66,000s, where previous demand clustered.
• On the upside, reclaiming $69,500 would signal that bulls are back in control of the short-term tape. Above $70,000, sentiment shifts from cautious to opportunistic.
• Traders are watching volume closely. Thin participation often turns small moves into exaggerated swings, especially in crypto, where liquidity can evaporate faster than your favorite meme coin’s hype cycle.

🗓️ Macro in the Background

• US stocks are closed Monday for Washington’s Birthday, which means lighter cross-market cues and potentially choppier crypto price action. When Wall Street naps, crypto sometimes overreacts.
• Wednesday brings the Federal Reserve’s meeting minutes, offering insight into policymakers’ rate outlook. Higher-for-longer rates typically pressure risk assets, including Bitcoin.
• Friday’s US GDP print is expected at 2.8%, a lower reading from 4.4% previously. Slowing growth can fuel rate-cut hopes, which in turn may support speculative assets like BTC. For now, Bitcoin waits for its next catalyst.

Source: Tradingview