July 4th weekly preview

ES:

this week indicates a pause week initiating a possible sideways movement or small decline with ES being extended near resistance and showing tweezers wicks:

Bitcoins weekly chart shows a completed "M" for murder pattern with three consecutive strong down weeks

bitcoin did bounce from its lows of the week for price to hold over the significant $60k supply zone level

prices closing below $60k level would diminish buyer confidence and the upcoming holiday week couldn't come at a better time for bitcoin to possibly drive prices higher from their lows of this significant sideways zone now confirmed from $60k to $72k (fourth of July generally having a positive effect on market participant sentiment)

Gold now retested its supply level of its multi month sideways zone

and left this last weak on a slightly bullish not but retesting these lows has made the overall zone weaker:

Silver lags golds bullish tone a bit but as its weekly chart shows is approaching the apex of its price formation and as such attractive risk reward ratios come into play since a move out of this compression could be substantial