Bitcoin has retraced from $22.4K, as anticipated. We did not see much reason for the rally, and felt that $23.9K was a bit top heavy, especially after such a hard sell off from June. We have returned to the value area between $18.6K and $22.4K. We appear to be getting good support around $22K, but the next support level is $20.7K if this does not hold. If that breaks there is a vacuum zone back to $18.6K. If we are somehow able to break out, then $23.9K should hold strong, providing significant resistance.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.