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#Marketupdate We continue to see the importance of $69.2k for Bitcoin- we had a number of wicks below this level but every 4 hour candle closed above to confirm it as 4 hour support. $70.3k (Monday High) is 4 hour resistance for now. I am watching for either one of these levels to break today to give us a better indication of the next move. For now I have my Bitcoin limit active waiting for a lower sweep.
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#Marketupdate After a 5% drop yesterday, Bitcoin has now started to accept under $70k. Notice that $69.2k (2021 ATH) remains a key level, with the recent 4 hour candles all reacting from that area. I managed to sync the move down with a nice long entry, but from here I am looking for a 4 hour close back above $69.5k (Prev Week High.) I do not want to start seeing any acceptance below $69.2k, otherwise I expect BTC retraces to the mid $67.5k area. New month, let's make it another great one!
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#Marketupdate Yesterday we mentioned how $71.6k was a key level to watch out for a retest. We can see that 3 consecutive 4hr candles reacted well from this level. We have some demand at $72k now which I want to see hold as 4 hour support. The 4 hour resistance now is $72.6k, so any acceptance above this level and we can see a new ATH arrive quickly. To the downside, any breakdown of $71.6k then I expect a retest of $70.3k (Monday High.)
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