Market Update -

Bitcoin has been unable to reclaim $109k so far this weekend, so we can say that 4hr resistance has now developed in this area. This has seen a continued retrace, which has allowed us to catch some nice moves on altcoins, and BTC is fighting hard to hold on to $107.1k (Monday High) as 4hr support.

There is a significant amount of demand between here and $106.4k (Weekly Open) but if we see any acceptance under this zone then we could dee $105k - $104k tested very soon. I expect a less volatile than usual weekly close due to the markets being closed tomorrow.

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Market Update -

Bitcoin saw had another strong reaction yesterday from the $107k (Monday High) area. BTC now has 4hr acceptance above the weekend resistance of $109k, but is under new resistance at $110k. The markets are closed today so I am in no rush to force the market after we caught some nice moves over the weekend, but I am watching for another sweep of the weekend lows to a retest of the $111k area.

As mentioned previously, if BTC starts to trade above $112k then $114k could be tested very quickly as liquidity continues to grow there.

Market Update -

After Bitcoin was unable to consolidate above $110k yesterday, we eventually saw a pullback towards $107.5k which is exactly the area I had bids set for a retest. A strong reaction, as expected, from this area so far and BTC now has acceptance back above $109k.

If we see continued upside today, $110k - $111k is still likely to be a strong area of resistance before the liquidity towards $114k. TO the downside, I do not rule out a sweep of $107k - $106.5k.
The Monday Range this week is: $108.6k - $110.4k.

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