Bitcoin has pivoted from lows completely in tandem with the bounce we saw in stocks. We have regained the 40K handle, as we anticipated here yesterday. However, we are seeing great resistance just below 40.8K, suggesting bulls still are not incentivized to buy it back higher. Range trading seems like the best option here. Be patient and scoop up some BTC in the 30K's, sell it in the low/mid 40K's. If we have enough momentum to break out, we will next face great resistance from the 42K's. If we give up the 40K's again, then we will likely test 38.2K again.
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