Direct from the desk of Dane Williams.
Markets resume regular service today, as the world emerges from an Easter long weekend and our attention today turns to crypto.
Bitcoin has regained the broken daily zone we've been watching, continuing to grind back it's initial coronavirus inspired liquidation losses.
With price now returning to retest the 6385 zone as support, before potentially ripping higher from it.
Why do I say that?
Well, because Bitcoin has ripped off this exact zone multiple times in the past.
Just take a look at the daily chart that's been marked up below.
BTC/USD Daily:
Both 1 and 2 saw price wick down into the zone, find buyers and rip faces off as it was catapulted higher.
The most significant aspect of the moves was that both previous touches on the daily chart saw an absolute tear higher.
An instant, vertical move is always more significant than a slow burn.
The potential at this zone is certainly getting us excited.
Best of probabilities to you,
Dane.
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