Nears the breakdown low
Bitcoin is up nearly 10% today in a continuing fast rebound from yesterday's spike low down to $30,000.
It's now approaching an important resistance level. It repeatedly tested $42,700-$43,000 earlier this week before breaking through and then breaking down. That support level is now resistance.
If it could get back above, it would be a miraculous comeback but I suspect it will struggle here.
You have to feel for the 775K accounts that were liquidated for more than $8.6 billion yesterday.
