Twenty four hours ago, it looked like Bitcoin wanted to test lower levels, including $44,000.
Fast forward to today, and BTCUSDT just confirmed a false break to the downside, so we’ll discuss what that could mean for the market in today’s issue.
We’ll also discuss the last place that makes sense for a macro lower high for ETH, and I’ll provide an update on VET.
Let’s get to it!
Bitcoin is testing a significant resistance area today at $48,500. That’s the intersection of a descending trend line and the bottom of an ascending channel.
A daily close above that area would flip it to support. Alternatively, a close below $48,500 would keep the area intact as resistance.
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