*Neutral until we see tomorrow's daily closure and intraday structure.*
Daily:
Bitcoin had a secondary dip as expected, followed by a strong recovery. We traded up to our major resistance level of $40,500 and the price action from here is promising once again. If we can build more bullish structure, we could see longs from our original level of $39,750 or even slightly higher (dependent on structure). We have a small gap on the daily CME chart and that could add confluence to our bullish bias. We should see more volatility once price breaks our current intraday trend. Until then, we wait for intraday structure to develop as we look for opportunities to take positions in the market.
Intraday:
The intraday was bullish as we grinded up approximately 2,000 pips in the market. We have tapped our major support level and could see a small dip before pushing higher. Our structure will tonight will help us gauge positions for tomorrow. It could be a choppy week, so make sure to protect your equity.
Daily:
Bitcoin had a secondary dip as expected, followed by a strong recovery. We traded up to our major resistance level of $40,500 and the price action from here is promising once again. If we can build more bullish structure, we could see longs from our original level of $39,750 or even slightly higher (dependent on structure). We have a small gap on the daily CME chart and that could add confluence to our bullish bias. We should see more volatility once price breaks our current intraday trend. Until then, we wait for intraday structure to develop as we look for opportunities to take positions in the market.
Intraday:
The intraday was bullish as we grinded up approximately 2,000 pips in the market. We have tapped our major support level and could see a small dip before pushing higher. Our structure will tonight will help us gauge positions for tomorrow. It could be a choppy week, so make sure to protect your equity.
