I’ve mentioned these Pivot high AVWAPS in BTC before as potential areas of resistance. There’s been some congestion there over the past month, but price is currently above all three, and notably, the AVWAP from BTC’s all-time high. So it’s worth paying attention to. Volume bars to the right show us that there a lot of supply to chew through at these levels, and RSI looks to be curling downward.
We’re going to need an RSI spike into overbought levels to make that push back towards $70K. I’m inclined to see what the chart looks like at around $65-66K before looking to reenter.
