Bitcoin Daily Outlook

*BTC has shown its hand, we are continuing this downtrend as most expected. This will be a choppy range, it's best to let price develop before looking for swing trades.*

Daily:
Bitcoin liquidated all orders built from our strong daily recovery yesterday. Price is approaching the lower teal (or black) trend line and I believe we will push higher after building some support at that level. We could see dips as low as $36,500 beforehand, so I will pay close attention to our structure to see the potentiality of a move like that. I will not look to jump in until we see promising price action, until then I will focus on scalps on the intraday. We have a major support level at $35,500, any lower than that and we could see an even sharper decline in the market.

Intraday:
The intraday was bearish and choppy. We saw an increase in volatility followed by a sporadic consolidation between our intraday trend levels. We are seeing an attack of the lower teal (or black) trend line and once we build better structure, I will weigh our options for potential positions.