$BTC has precisely turned into new resistance the very levels it absolutely needed to reclaim back into support
Bitcoin has upside wicked into both the Mid-Range of $90500 and the Higher Low (purple) that was lost last week; both acting as resistance
Now Bitcoin is teetering around the Range Low of $84k and given how this recent run-up was a lot weaker that the rally from several weeks ago, this Range Low is demonstrating a portrait of weakness which could precede breakdown
Bitcoin needs to avoid turning the Range Low of $84k into new resistance on the lower timeframes and somehow muster a Weekly Close above said level to rescue itself from a breakdown.
BTC
81,250.01
+2.31%