For the Bitcoin Day Ahead
WELCOME TO MY POST
Bitcoin would need to move back through the pivot level at $55,730 to bring the first major resistance level at $56,659 into play.
Support from the broader market would be needed for Bitcoin to break out from Sunday’s high $56,609.0.
Barring an extended crypto rally, the first major resistance level and resistance at $57,000 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at $58,000 before any pullback. The second major resistance level sits at $57,539.
Failure to move back through the $55,730 pivot would bring the first major support level at $54,850 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of the second major support level at $53,921.
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