Bitcoin stands at the back foot following repeated failure to clear psychological 70K barrier, though near-term action is still holding within a range (66915/71933), part of larger consolidation below new record high and moving in a sideways mode.

Daily studies are weakening (fading bullish momentum, price closed below 10DMA), but overall picture is predominantly bullish.

Extended dips should find firm ground above 66K zone (range floor / rising 20DMA) to keep larger bulls in play for fresh attempt  through 70K pivot, with sustained break here to generate strong bullish signal on completion of cup and holder pattern on daily chart.

This would open way for fresh acceleration higher and expose targets at 71933 and 72750, guarding a record high at 73839.

Caution on loss of 66K handle, which would weaken near-term structure on a double bull-trap above Fibo barrier at 68898 and risk deeper correction of 56427/71933 upleg.


Res: 68898; 70000; 70584; 71933

Sup: 67151; 66515; 66000; 65121


The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

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