Bitcoin sat trapped between $58,000 and $67,000 for over two months, then leapt to $79,000 in just three sessions last week on regulatory news.
A shallow retracement of that three-day surge, price levels built back in January and March, and the point where the surge began all overlap at $73,600-$75,500.
If $70,900 gives way the whole advance has failed, so the stop sits just below the one-year average price line that bitcoin has only just reclaimed.
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.
