BTC Weekly Closing Update
The price has closed below 22,500, which may indicate bearish sentiment in the short term. However, when we examine the market structure, we can see that the weekly candles are forming a higher low and respecting the trendline support. This suggests that the long-term trend is still intact.
As long as the price remains above the trendline support, there is no change in the overall price direction, and the market is likely to continue trading sideways for the time being.
It's important to keep an eye on any developments that may affect the trendline support, as a breach could indicate a shift in market sentiment and potential changes in price direction.
