Bitcoin Looking Heavy but Still Finding Support

מעודכן
-BTCUSD is looking a tad heavy these few days, drifting toward the bottom of the nearer dealing range between 24260 and 22230 price levels.

-I believe Bitcoin will try to break out to the downside reaching for the discount end of the greater dealing range set by the rally from Jan 18 low to Feb 1 high. At the time of writing, bottom end of the nearer dealing range is still holding. I am anticipating a breakdown but could see small range trading happen until a liquidity injection event sends price lower.

-Bias: Bearish
-Why? There is sellside liquidity below the 22230 level which I believe the algo will reach for.
-Targets: 22230 and 21650 into the daily +orderblock.
הערה
As outlined, bitcoin dropped aggressively toward the 21650 target to fill in the imbalance left during the run up that occurred in mid to late January.
הערה
21650 target hit.
BTCUSDbtcusdshortChart PatternsTrend Analysis

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