M2N

Weekly Close... $BTC Currently, the weekly close is not looking particularly pretty. We first formed a long wick (entire pump retraced). The following candle filled the entire wick and closed above 71.4K highs. The next wick (last week’s wick) swept above the highs and instantly retraced the entire pump, violently pushing price back down. I observe things from a psychological standpoint, (what does this tell us, who was trapped, who is exposed, and what’s likely to happen next?) Well, as of now, longs have been obliterated, continuation longs, breakout longs, and even mid-range longs. We have a CME gap at 70K which is yet to be filled and can act as resistance on a revisit. If we push to 70K this week, observe the reaction, a rejection confirms the trend is very bearish on the LTF. In terms of key structure we need to hold... the monthly open sits at 66.9K, which is something to observe for a reaction/acceptance above. However, the key areas on the HTF sit around 65.9K down to 64.7K. Lose that and bulls can say goodnight, because sub-60K is coming. Until then, I think its plausible to expect a bearish retest before continuation lower. It’s clear bears are in control, retracing the move right back into range. In my opinion, all I see is a push to the CME gap to bait late shorts, and then a continuation lower. Again, CMEs can take a while to fill, but eventually, they fill.

The Pentagon has asked the White House to approve a more than $200 billion request to Congress to fund the ongoing Iran War, according to a senior administration official, in an enormous new ask that is almost certain to run into serious resistance from Democrats and Republicans in Congress. The amount being requested would far surpass the costs of the Trump Administration’s massive airstrike campaign against Iran to date and instead seek to urgently increase production of critical weaponry expended by the U.S. Army, Air Force, and Navy in strikes against and defending from attacks by Iran, according to three other people familiar with the matter who spoke to the Washington Post.

BREAKING: Oracle stock, $ORCL, surges over +8% after beating earnings and posting a 44% jump in cloud revenue.