Market update -
After Bitcoin gave multiple taps on the support trendline it was only a matter of time before it failed. The price has now rejected from the retest of the Developing Month Value Area Low which is the first resistance to overcome. We then have the previous support trendline which we can expect an initial bearish retest of, at around $22,825.
The bounce around the range lows are now getting much weaker. If the price starts to accept below the range at $22.3k, we could expect a fast move to $21.9-$21.8k which was a key weekly resistance level last year.
