Bitcoin has now reached our range value area high target which is that last area of strong resistance before new all time highs.
Taking a closer look we can see that BTC is currently finding resistance on the monthly naked point of control, daily level, and daily naked point of control along with the fixed range value area high. If we start to see some 30 minute candle closes about $105,000 new all time highs become much more probable.
If we take a look at the order flow on the BYBIT BTC/USD chart at the current highs we can see there is a mix of longs and shorts opening so there is the potential for a long or short squeeze depending on which way the market breaks.
Local areas of support and resistance for BTC are shown on the below 30 minute ByBit BTC/USD chart.
Todays levels of support for Bitcoin where price may, or may not give a reaction are:
- 103,655 – Weekly naked point of control, local 0.618 retracement, local range POC.
- 102,936 – Daily Level, local fixed range value area low, local 0.786 fib retracement.
- 101,099 – Naked point of control, anchored vWap.
Todays levels of Resistance for Bitcoin where price may, or may not give a reaction are:
- 109,000 – Weekly and Daily naked point of control.
High Impact News events to be aware of:
- None.
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