Bitcoin showing weakness at the moment getting a perfect rejection from the Daily level of resistance at 22552$ marking a potencial high for this move up. Currently in the middle of the range between the high at 24’000 $ and the over all low at 17567 $. If we took this high I would look for the high of the range to be tested . The 24k dollar zone being very key because the move down was very quick so that if you get acceptance into 24k zone there is a very high probability for retrace all this move up to 30000 $ at least (idea 1) . A failed auction above this high and a move back down below it would be considered bearish for a potential rotation to the range low (idea 2) where open up the possibility for a Swing Failure Pattern or a failed auction below the lows , (idea 3) is coming into play.
Levels of support: There are not much levels of support to the downside : the Daily level 17084$ for the potencial to create new lows , if those new lows don’t hold ..well the bigger targets remain around 8-10 thousand dollar zone with our last standing support at 8706$ .sub levels are 15318 $ and 13566$.
Levels of resistance: locally there is not a lot , you have the daily that we have rejected from to the absolute dollar , if you claim that level i’m looking at the 1 hour high that create this range , if Bitcoin claim that level I’m looking to the 30k zone. If you get rejected you could trade this range until it breaks.
