Bitcoin Price Update
1. One funny things happened here.
After moving from range highs (New ATH) we had textbook bearish orderflow back to range lows (longs on leverage bought and spot was selling). Then we found support and bounced after a SFP of the low into our Key S/R Zone (Previous Range High = $112K)
SFP = Swing Failure Pattern.
2. We bounced back, with some help if bullish news, towards our next Key S/R Zone which has been crucial throughout this whole range. Upon return we had a bearish underside retest and dropped back under our range low with our key S/R zone at 112k and tagging the nPOC.
nPOC = Naked Point of Control.
3. Currently pushing back up, and ideally would like to see a similar situation as in 1.
SFP of low into another confluence zone (nPOC + Key S/R zone)
If we continue to push here with some volume we may find ourselves range bound between $112k-$115k while alts are making runs.
4. If we reject here and range low starts acting as resistance, next level to watch for me would be the nPOC $108k.

From X
Disclaimer: The above content reflects only the author's opinion and does not represent any stance of CoinNX, nor does it constitute any investment advice related to CoinNX.