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Bitcoin Tests Highs of the Range

Bitcoin saw a nice pump from a softer dollar and strength in stocks. We were able to break out of the 20K handle, and is currently testing the next level above at 22.4K. This is the very top of the range, and a well established level of resistance. A red triangle on the KRI provides confirmation that we are running into resistance here. If we can break through, then the next targets are 23.9K then 25.1K. If we fail to break out, we could test the base of the 20K handle again or lows at 18.6K.