As I mentioned in yesterday’s post, I was expecting another short term pullback to retest both the $64k level on the VRVP and the uptrend that price has been forming over the past week.
Clearly, as we can see, price has fallen right back to both of those exact levels and is still currently attempting to hold that support.
If we continue to fall through this strong support level, we will very likely see price find its next level of support around $61k. I do believe price will at least see some sort of short term bounce from this current level, as it is a strong support range on the VRVP.
This is the level we should be keeping an eye on as we head into the weekend. If we start to bounce, we will likely retest the highs once again. But if we break down, we are likely going to retest $61k, as I mentioned before.
Keep a very close eye on this chart!
