Bitcoin has burst out of the 59,000-66,000 box that held it for over six weeks, surging 12% in two days to trade around 72,000 today.
Volume on the breakout day was the heaviest of the period, and the old box ceiling, the price gap the surge left behind, and the one-year average price line all overlap at 68,000-69,000 as the natural place for a pullback to stop.
If the old box ceiling at 66,900 breaks again the upside breakout is overturned as a failure, which is why the stop sits just underneath it at 66,300.
The full analysis is for members
Analysis by methodology (ICT, Wyckoff, Elliott, divergence, macro, news), invalidation levels, R:R and confidence are in the member report.
