Bitcoin: Pay Attention To What Happens This Week

2 Aug 2022 · 9 min
8:36

In this YouTube market commentary, the host of The Art Of Crypto provides a technical outlook for Bitcoin over the coming week. He begins by reviewing the previous video’s prediction of a daily higher low, confirming that the daily chart still shows a bullish market structure despite recent price drops. He explains the significance of two CME futures gaps (around $28,700‑$27,400 and $23,600‑$23,900) as potential price targets, arguing that market makers will likely fill these gaps to restore equilibrium. Using the Volume Profile (VPVR) indicator, he notes a lack of volume resistance between the current price and the $28k‑$29k zone, suggesting a rapid move upward is possible. He then shifts to the 4‑hour chart, where market structure has turned bearish (lower high, lower low), indicating a near‑term downside target near $22,600, with deeper support around $21,500‑$21,800 based on Fibonacci retracements (0.5, 0.618, 0.705, 0.786). The host emphasizes that while the daily outlook remains bullish with key resistance at $28‑$29k and $32k, the 4‑hour timeframe may see a pullback before the next expansion. Throughout, he advises traders to be patient, avoid chasing setups, and wait for clear structure breaks before entering trades. The video concludes with a promotion of his Twitter account and a private Discord community for real‑time trade alerts and education.

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