Bitcoin Ranging

After breaking down from our bear wedge pattern, Bitcoin has found resistance 57.7K, a technical level that to which you have been alerted many times. If it is able to break this level we will see resistance from the trend line which will coincide with 59.4K by that time. It is more likely that Bitcoin will feel out lower levels of this range. Recall that 52.8K is the lower bound. If we break down from this range, we will have support from the psychological 50K level with 48.2K as a min lower bound. We have significant resistance at highs, but if we can break that, 61.6K is the next target