Bitcoin Daily Outlook
Daily:
Bitcoin closed strongly bullish today as expected. CA members capitalized on the liquid move towards $43,000 yesterday. We are building good structure above our major support level of $40,500 and we’ll need to see closures above $43,000 to see more volatile movement. Until then, we will consolidate within this range and may see some slight bearish pressure towards $41,000. We have already captured a large move for the week, it’s best to once again let structure be made and to see what kind of closure we get tomorrow. I will monitor the intraday for scalp opportunities.
Intraday:
After pushing higher towards $43,000, we have spent the rest of the day within an intraday consolidation range with resistance at $43,000 and support at $42,250. I expect a break from this micro trend tomorrow and will use the structure that is made to gauge direction for the rest of the week.
Bitcoin closed strongly bullish today as expected. CA members capitalized on the liquid move towards $43,000 yesterday. We are building good structure above our major support level of $40,500 and we’ll need to see closures above $43,000 to see more volatile movement. Until then, we will consolidate within this range and may see some slight bearish pressure towards $41,000. We have already captured a large move for the week, it’s best to once again let structure be made and to see what kind of closure we get tomorrow. I will monitor the intraday for scalp opportunities.
Intraday:
After pushing higher towards $43,000, we have spent the rest of the day within an intraday consolidation range with resistance at $43,000 and support at $42,250. I expect a break from this micro trend tomorrow and will use the structure that is made to gauge direction for the rest of the week.
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