Gm and happy Friday! ☕️
Bitcoin update & Hyblock Heatmaps
The former range low at 59/60k remains a strong resistance, whether Crypto Twitter likes it or not.
The wicks clearly show how strong the sell pressure is at the resistance and how strong the buy pressure is in the low 50s (arrows).
For now, the support at 56.5k is holding, which is the low from May 1st, when Bitcoin left the range for the first time.
Upwards, the EMAs are still a significant resistance below the former range low. And main area to reclaim before turning giga bullish again is 63.8k.
Short term, we're in the range 56.5k - EMAs and you can search for trading entries accordingly.
Just be careful with PPI today (in around 5 hours from now), although it shouldn't be as volatile as yesterday.
Have a great day and see you soon!