*We saw a major dip at the market open for the next daily candle. I will remain bullish until we dip and close below 29.5k on the daily, this would invalidate my short-term bullish bias.*
Daily:
Bitcoin closed bullish and is testing resistance at $31,700. We need to see a breakout above $31,700 for continued momentum on the intraday. This was the second largest bullish closure within this daily range which is promising but we need to be prepared for a fake-out. I will only look to enter another trade near the top or bottom of the range depending on our price action. A breakout below will send us towards $25,500 while any breakout higher will push the market up towards $35,500. There is a lot of counter-pressure in the market making price choppier and more volatile at times. Until we have a clear break my short-term bias will remain bullish. Any daily closures under $28,600 will invalidate my bias.
Intraday:
The intraday was bullish as we traded up almost $2,000 on the day. The market has since dropped $1,000 at the open of the next daily candle. This could be attempting to shake-out buyers before the market continues higher. I will monitor the intraday price action for signs of a continuation in the market.
Daily:
Bitcoin closed bullish and is testing resistance at $31,700. We need to see a breakout above $31,700 for continued momentum on the intraday. This was the second largest bullish closure within this daily range which is promising but we need to be prepared for a fake-out. I will only look to enter another trade near the top or bottom of the range depending on our price action. A breakout below will send us towards $25,500 while any breakout higher will push the market up towards $35,500. There is a lot of counter-pressure in the market making price choppier and more volatile at times. Until we have a clear break my short-term bias will remain bullish. Any daily closures under $28,600 will invalidate my bias.
Intraday:
The intraday was bullish as we traded up almost $2,000 on the day. The market has since dropped $1,000 at the open of the next daily candle. This could be attempting to shake-out buyers before the market continues higher. I will monitor the intraday price action for signs of a continuation in the market.
