$BTC - Value Area

This bounce might just be shorts covering and/or hedges – a kind of mechanical reaction following a liquidation event.

If we are going to consolidate within the current value area (96.5k-104k), I wouldn't be surprised if we get an upthrust retesting 103.8k-104k range before rotating back to take out the swing low.

A potential level for shorting, but I'm only interested in shorting on signs of weakness or a strong rejection at that level.

Possible targets:
94k - 93.5k
90k- 88.5k
84k-80k