Bitcoin has continued to drop from the range value area high which was our target outlined in previous BTC updates.
Currently bitcoin is finding support on the anchored vWAP which was pulled from the lows on the 6th May. Currently price is trying to gain acceptance back in the the local range VAL, if this is not claimed as support then we can expect a larger drop to the downside on BTC.
Bitcoin Trading Plan
Todays levels of support for Bitcoin where price may, or may not give a reaction are:
- 96,800 – Range POC, 0.75 fib retracement, aVWAP.
- 91.600 – Daily Naked point of control taking liquidity, aVWAP & range VAL.
Todays levels of Resistance for Bitcoin where price may, or may not give a reaction are:
- 104,300 – 104,700 – Naked POC, local range VAH, 0.66 – 0.75 Fib retracement..
- 109,000 – Weekly and Daily naked point of control.
High Impact News events to be aware of:
- 13:30 GMT – CPI / Core Inflation Rate.
The above levels are intended as areas of interest only, they are not in anyway financial advice and a valid entry trigger, stop loss placement and target needs to be considered before entering any position