Watching some of these local support levels (in green on the right price column).

The best outcome is that we continue to respect the $38.7k as support going into Monday which barely gives us a higher low.

If we drop further, an optimistic target is around $38.1k on the downtrend channel support. Below there is $37k, $35k.At $35k the macro uptrend is technically intact but barely. Bulls should strive to remain above $37k if possible.

In terms of overhead resistance – we can add $40k to the list as the first target for bulls to recapture.

In my view the US Government appears insistent in talking the markets down with a press release or speech every few days talking about inflation and raising rates and other things that spook markets. They also appear interested in frontloading their battle with inflation , meaning they want to go more aggressive now, perhaps to give them room later to scale things back.

That said – supply continues to fly off exchanges which combined with the macroeconomic sentiment may lead to increasingly volatile markets, up or down will happen often and quickly- this means trade safely.. until we see a clear direction, crypto will continue to chop and this will exhaust even the most season traders.