COINBASE:BTCUSD Bitcoin / U.S. Dollar
Last week in the Sunday Prep we pointed out that a break above 47400 that didn’t get back to the 53k area but instead rolled back over and then lost 42830 then to “look out below.” Well, that’s exactly what happened and the break of that level saw over 3k points more of downside. Bulls have some work to do here because at the moment you have all 3 major moving averages hovering menacingly overhead. That 45k area looks to be highly probable resistance. Below, I would expect support to be strong down at last week’s lows.