Keep a close eye on the daily trading range

Following a break from major diagonal support, Bitcoin appears to be in a bit of trouble. The Weekly S1 along with the Daily 50 SMA offered some support but without a conclusive break back above at least 33900, there would likely be more downside. The next important levels of major support are likely the Monthly Pivot (strengthened by the Daily 100 SMA) @ 25270 followed by the Yearly Pivot @ 20550. If Bitcoin can stage a recovery, the area between 35300 and 37550 (YR1) could likely be re-tested. But for now, keep a close eye on the daily trading range between 31400 and 33500