Bitcoin rocketed 26% from 62,000 to 79,000 in just five days, and is now pausing for breath around the 77,000 level.
It stalled again at the 79,000-82,000 ceiling where sellers piled up for two weeks last May before the market collapsed. The place a pullback should stop is 71,800-73,600, where the one-year average price line, the 38% giveback of this rally, and the old resistance from just before the surge all line up together.
If even that stacked support gives way and the 70,000 level breaks, the whole advance is broken, which is exactly why the stop sits just below it at 69,500.
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.
