Bitcoin is trading at $3570 with 24 hour volume leveling just shy of 5.0 billion USD.
After the upward breakout on Saturday, $BTC climbed to hit a peak of $3784.5. However ,Sunday morning started a bit bloody with a drop extending 6.5 percent, taking $BTC to a low of $3450.
Bitcoin has hit both levels ,outlined in our previous update, only to remain indecisive and chopping up market participants. It has formed a broadening (bottom) formation.
Major support below is at $3380-3450; major resistance is above at $3960-4040.
A leveraged long on Bitcoin, as a swing trade, makes sense, targeting $3700 and potentially reaching the $4000 area.
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