Look, Bitcoin is showing some interesting signals this week. After three consecutive weeks of ETF outflows, we saw a nice turnaround at the end of February — about 11.8K in positive flows came in. Meanwhile, the price is moving within a tight range, but there are some things happening on the charts worth watching.

What caught my attention is that the weekly RSI has returned to the oversold zone, and the price is testing a support within an uptrend channel. This has happened before at important lows, so traders are watching to see if history repeats itself or not. There’s also an enormous amount of liquidity clustered between $67,482 and $68,150 — these levels act like a giant order block on the chart.

What makes all this more interesting is that there’s an order block of orders around $66,800 that could be blocking the drop. If BTC breaks above $67,078, it could trigger the liquidation of about $20 million in short positions. But this order block could also act as a rejection zone — liquidity works both ways.

Basically, the market is waiting for clarity. BTC is compressed between the familiar support zone and these resistance levels where liquidity is concentrated. If it manages to break above this resistance order block, the next target would be around $68,150. But for now, any move below support could lead to a sharper decline. It’s quite indecisive at the moment.