There has been little fresh catalyst to drive Bitcoin anywhere in any significant fashion with the dead cross in the moving averages keeping bulls subdued. Crypto circles continue to talk in jargon looking for a start for a push to new ATH (All-Time Highs) as in previous cases of bitcoin halving. Arguments for the upside has been the mainstreaming of crypto with wall street attracting billions particularly into BTCUSD ETFs. Yet if the bulk of mob has already bought who else is there to push things higher?
Resistance
- 64376 – Intraday Consolidation Resistance
- 62682 – Intraday Double Top Breakout Point
- 62015 – Previous Intraday Consolidation Resistance
Support
- 59662 – Previous Intraday Resistances
- 56470 – Swing Lows
- 52993 – Previous Daily Consolidation Resistances
With the daily oscillator crossing lower inline with the descending triangle/double top breakout for 4H charts immediate risk for us is to seek for the pattern’s price target A’ the distance between the peak and the breakout point. That said finding an entry could be difficult and long tails in the hourly chart will shift our focus into a recovery towards 62682.
