Bitcoin has continued its tight range, after stocks snapped a four day rally. The upper bound seems to be $48.2K, which is a barrier between current prices and $49.7K, our next target and last level before $50K. The rally in Bitcoin does seem to encountering a hard pause, and we will need significant momentum to break $50K again. This seems to hinge on what stocks decide to do. We could have enough in the tank for another attempt at $50K, but this should provide formidable resistance and we may see a significant retracement upon rejection. If we retrace, then we should see support in the $45K-$46K range, with $43.8K a likely floor for now.
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