Bitcoin was under pressure for most of the European session yesterday. As suspected, this pressure eventually led to a drop below the previous provisional low which stood at 37,523. However, this decline didn't extend very far, as Bitcoin dropped as low as 37,326. The subsequent rebound was dynamic and swift as the price recovered all the levels it had lost earlier in the day, finally climbing above 41k before the broader US market close. Bitcoin peaked at 41,390. Today it has stepped back from that level so far, briefly dipping below 40k just moments ago. So yesterday's recovery is still very intact for the moment, but as the title suggests this is still a roller coaster ride and increasingly difficult to predict. Bitcoin is now trading at 40,980.

The next resistance is 42,600 and if the trend line is not broken we can expect it to break. I am attaching the entry and exit levels for the intraday on BTC BNB and ETH.

Chart from tradingview.com

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This article does not contain investment advice. Every investment and trading move carries a risk, readers should conduct their own research when making a decision.
THE OPINIONS EXPRESSED BY THE AUTHOR ARE FOR INFORMATION PURPOSES ONLY AND DO NOT CONSTITUTE FINANCIAL, INVESTMENT OR OTHERWISE ADVICE.

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