Bitcoin had one close above the long term swing point of 11800 again, but could not confirm a move higher with the second higher close. Yesterday's close put the market on the defensive once again. The long term target on a break from this area can take it back to 7200, our short term target is the area of the major Gann square at 9400 and 38.2% back at 9200. As always we will watch all the retracements on any break, today's low was just above 23.6% of the move at 10500 and the major Gann square at 10450, if this is all they can break from the long term swing point, look for them to take it to new highs for the move and the long term target of 16300.

Bitcoin Daily

ONE44 static sup/res.

Bitcoin static sup/res