After more slow price action on Bitcoin to start the week, we have seen price over the past few hours slowly slip back below that $79k level on the short term.
If this move confirms with the 4H candle close, then I’d expect the next level of support to be around $77k. And if THAT breaks, then $76k is the final short term support level before a major gap in the VRVP.
If we fall below $76k, we could easily see a much deeper short term pullback into support around $70k, and even as low as the high 60s again.
It’s important to know that even if we do get a dip into the high 60s, it’s still very unlikely we see new bear market lows with all the macro resistance already being broken.
Keep a close eye on these short term levels!
