$BTC - Deviation or Continuation?
Bitcoin retraces to the previous value area.
On the daily chart, price deviated above our VWAP and is now retesting its upper band.
Currently, price is retesting the previous range high. If this level holds, a complacency bounce is likely.
Immediate resistance to break is around 70.7k (pdPOC). A rejection at this level could drive price down to 68k (pwVAH) and potentially further to 66.4k (pwVAL), sweeping through imbalances (single print/poor low).
On the daily chart, price deviated above our VWAP and is now retesting its upper band.
Currently, price is retesting the previous range high. If this level holds, a complacency bounce is likely.
Immediate resistance to break is around 70.7k (pdPOC). A rejection at this level could drive price down to 68k (pwVAH) and potentially further to 66.4k (pwVAL), sweeping through imbalances (single print/poor low).
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