Bitcoin has moved back towards both its weekly and daily pivot points,

close to the 118,700 area, after another failed breakout above the
120,000 level.

Confirmed fake news regarding a resignation letter from Chair Powell and
another strong bid in ETH/BTC are all reasons why BTC is struggling
again.

-- Triangle Watch --

It is also very noticeable that Bitcoin was trading inside a large
triangle pattern yesterday, signalling a potential directional breakout.

The price broke the upper-end of the triangle after a failed downside attempt, and Bitcoin finally started to rally. 

I mention this because Bitcoin is now retesting the breakout area from the triangle. It is important that this retest holds.

This should encourage another shot at 120,000, and possibly the current ATH.

-- CTMC Breakout --

The Crypto Total Market Cap chart remains front and center today.
Yesterday, we saw the first confirmed daily close and a 12-hour close
inside the breakout zone.

I can compare the Breakout Zone to being like an Air Pocket, which will cause cryptos to skyrocket. 

It is very important that we see Bitcoin follow through today, which
will come with another higher high. The 12-hour candle is critical right
now.

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