The current price of Bitcoin is hovering around $3670 with 24 hour volume leveling around 5 billion USD. Bitcoin bounced near $3100,
which provided a two week rally that led to a market surge of nearly 33%. Since then $BTC and the rest of crypto has cooled off slightly as the price
for Bitcoin has begun to range in the 3600-3700’s for the past 3 days
If $BTC can break and hold $3900 on a 4hr time frame, then it would show renewed faith in continued upside and it would be a good idea add to the positions
The next move though looks like it will be a break below $3680 and continued downside towards the $3500 range as this would be the next support.
At that point, it would be good to re-evaluate the $3500 range to signal whether or not we think this support level will provide a new low for the current market structure.
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