Well, it seems bitcoin is not quite done yet with whatever this move is. That is the real question, what the hell is the move?
All of these options are valid and really only time will tell. What I can say though is we are established in the 2nd level range, so no longer are we sweating 16K as the 19-20K area is clearly the near-term support level.
Now that Bitcoin touched 25K and has backed off initially, will we see a test of 20K on a pullback or is price gearing up for a run at breaking through 25k?
Looking at the daily chart above I do notice the volume is nothing to get excited about. Yes, its not low but it also isn't very high so that is a missing element to this last little push.
Always want to see more volume on up moves as it points to stronger overall demand. We shall see if price stays range bound.
