BULLS CASE:
Bitcoin is currently resting on the 20400 - 20500 S/R area. This has often resisted PA on first contact. There's also a CME gap at 21700 that needs to be filled. Lastly, there's the uptrend line on which PA is also resting.
Breaking the S/R and uptrend line will be a strong case for bears and only a confirmation away from a short trade.
For now,...
Rune has been trading in a downward Channel since early may and has recently bounced of the major Resistance of the upper end of the channel. It broken the local support at the $2.75 - $2.84 region and is retesting the major Support of lower end of the channel at $1.99 - $2.01 Wait for a bounce or a breakdown of the Channel Support before entering a trade.
