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Assessment: Above average volume this week and a market that is finally showing some bit of trending. Now the question is use the pullback for a bullish entry OR play the bearish side for further downside.
Nothing major on the economic front, so the current trading is simply portfolio repositioning in the New Year after traders ground some small profits from the Santa Claus rally into the end of the year.
Bitcoin Path Predictor Chart: https://sblk.io/s/N7nRCNs6S4IOPsX4
Seeing some high volatility sideways movement in BTC recently. The $42,500 round number level and the $42,024 pivot still remain key support right now. Below that is round number support at $40,000. As always this continues to be a wild one to trade due to the major catalyst of the ETF news and setup out there. Until that settles, the risk in trading BTC will be above average. If things go poorly, the major support on this chart is the $29,820 pivot which is a long way down.
Good luck in your trades!