Yesterday saw another rangebound day for bitcoin, today we are seeing a potential breakdown from the local range and possible loss of the anchored vWAP which has been holding price as support. With the large amount of high impact data coming out of the US today we can anticipate a break of the current period of consolidation.
Bitcoin Trading Plan
Todays levels of support for Bitcoin where price may, or may not give a reaction are:
- 100,000 – Monthly vWAP
- 97,000 – Upper range POC and anchored vWAP from 20th April lows.
- 91,600 – Naked POC, liquidity, anchored vWAP.
Todays levels of Resistance for Bitcoin where price may, or may not give a reaction are:
- 104,500 – Naked POC, local range VAH and Daily level.
- 109,000 – Weekly and Daily naked point of control.
High Impact News events to be aware of:
- 13:30 GMT – Jobless Claims, Retail Sales, PPI.
- 13:40 GMT – FED Chair Powell Speech
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