Over the past 24 hours, Bitcoin has maintained current price levels with a lower time frame consolidation, an expansion is upon us.
Over the past 24 hours, price action has breached its key range-mid resistance with a strong bullish expansion. Bitcoin is currently trading above its range mid-point with a local bullish market structure.
Over the past 24 Hours, Bitcoin has remained trading between the same levels, adding validity to yesterdays warning of more choppy sideways price action to come.
Over the past 24 Hours, Bitcoin has has a bullish expansion within its trading range after establishing a bullish retest of the current range low.
Bitcoin simply needs to hold the range low of this larger trading range, the overall target still remains at $60,999.
Over the past 24 Hours, Bitcoin has had a bullish expansion from the lows, further confirming the Short Squeeze.
It looks like Bitcoin has confirmed the deviation that was discussed a couple issues ago - path of least resistance is higher which will continue the short - squeeze.
zooming out to the Daily Timeframe for a wider look on price action against time, we can see a clear range forming - three points have already been established to solidify the range.
The market has been on a strong decline over the past few days, this increases the probability of a local oversold bounce.
yesterdays price action was trading at an area where liquidity was taken, placing emphasis on a potential swing failure pattern forming, this came to fruition once price action closed back above the low.
Bitcoin’s price action broke the rang low support at the Daily Open for the Asian session. The low was established early in the day, price action has since been consolidating on the lower timeframe.
Price action on Bitcoin has been struggling to break above a key resistance level causing the recent rejection back to support. This level needs to hold otherwise weakness is prevalent.
