Bitcoin Daily Outlook
Daily:
Bitcoin closed bullish again and tested $43,000 resistance. We need to see a closure above $43,000 to start looking at potentially reaching our next major resistance level of $45,500. Above this level, we are bullish on higher time frames. We are approaching the end of the week and we may continue to see bullishness towards $45,500 before the end of the month. If we cannot break above $43,000, we will likely spend the next week or so in a consolidation before moving higher. I will monitor the intraday for scalp opportunities.
Intraday:
We had a fairly volatile day. Price spent the day ranging between our intraday levels before exiting and testing resistance at $43,000 again. It is likely we will see a push higher from here and if that does occur, I will look for more structure to continue taking longs from.
Bitcoin closed bullish again and tested $43,000 resistance. We need to see a closure above $43,000 to start looking at potentially reaching our next major resistance level of $45,500. Above this level, we are bullish on higher time frames. We are approaching the end of the week and we may continue to see bullishness towards $45,500 before the end of the month. If we cannot break above $43,000, we will likely spend the next week or so in a consolidation before moving higher. I will monitor the intraday for scalp opportunities.
Intraday:
We had a fairly volatile day. Price spent the day ranging between our intraday levels before exiting and testing resistance at $43,000 again. It is likely we will see a push higher from here and if that does occur, I will look for more structure to continue taking longs from.
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