This week's Monday Market Update is live, and the tone is cautious. Bitcoin has closed beneath the 200 week, the trend is pointing lower, and Sam makes the case for patience while the bears play out what he believes is their last gasp. Here's what he covered:

Decision time at the 200 week. Bitcoin rejected the 10 week and closed just beneath the 200 week with an engulfing candle, and why Sam reads that as bearish in the short term even while he's convinced we're closer to the end of this phase than the beginning.

Yields are the handbrake. The 10 year and the 30 year are both breaking out, which acts as tightening even with the dollar falling, and why Sam wants to see yields roll over before he gets interested in a sustained move higher.

The divergence still building underneath. Seasonality points to a soft August and September, but the weekly RSI is holding a higher low while price probes lower, and why a triple bottom divergence is the structure Sam is watching for.

▶ Watch first 5mins here:

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