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7.8 Early Morning Thoughts
Bitcoin’s price action is extremely similar to yesterday: it surged in the early morning and sank during the day! With choppy back-and-forth fluctuations, this is a great time to profit. Right now, it’s repeatedly swinging between 4000-4200, and after the surge it’s consolidating to repair sideways movement!
Don’t look too much at the bulls—there’s heavy pressure overhead. Without an effective breakout of the pressure level, the larger cycle is still in a downward channel.
Big Brother: rebound resistance at 64500, with 65300 under pressure; support below at 62500, 61000.
Second Brother: rebound resistance at 1830, with 1860 under pressure; support below at 1750, 1710.
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