Market Update -
We were expecting that Bitcoin sweep of $71.9k for a few days, simply based off of the volume of sell orders in that area. So far we have seen a 5% retracement to the lows. Notice, once again, the 2021 ATH at the $69.2k area is significant as it is being respected as 4 hour support.
This is also where the Developing Month Value Area Low is too. We are seeing large buy orders now starting to build in the $65k - $63k area so this is something to keep in mind in the coming days, but a small area of liquidity also sits at $66.8k. For now I am watching the price action develop and soon we make our next move.
