Bitcoin Daily Outlook
Daily:
Bitcoin closed bullish but we are still in a consolidation. Our candle body closure was almost exactly the same as yesterday. We are still building good structure from our current levels and I may begin to look for buys from any minor pullbacks under our major support level of $45,500. Above our recent highs at $47,500, we should see quick moves towards $50,000. Volatility is already picking up in the market and we will likely see even more as we start the week. I will monitor the intraday closely tomorrow for potential setups.
Intraday:
The intraday was more volatile than yesterday. We saw a large bullish swing to take out highs in our intraday range before slamming lower and dropping 2,000 pips. We are building good structure and we should be able to find a good setup to start the week.
Bitcoin closed bullish but we are still in a consolidation. Our candle body closure was almost exactly the same as yesterday. We are still building good structure from our current levels and I may begin to look for buys from any minor pullbacks under our major support level of $45,500. Above our recent highs at $47,500, we should see quick moves towards $50,000. Volatility is already picking up in the market and we will likely see even more as we start the week. I will monitor the intraday closely tomorrow for potential setups.
Intraday:
The intraday was more volatile than yesterday. We saw a large bullish swing to take out highs in our intraday range before slamming lower and dropping 2,000 pips. We are building good structure and we should be able to find a good setup to start the week.
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