Bitcoin rallied during the Asia session, moving above the short-term range between $29,800 and $30,500. However, that rally failed once New York woke up, which is often the case with Asia-session pumps. The 4-hour close back below $30,500 confirms the latest BTC move as a bearish fakeout. It also opens up the minor range lows at $29,800. Typically, a fakeout to one side of a pattern like this triggers an extended move in the opposite direction. So that suggests an eventual break below $29,800, although that’s yet to be seen. Friday’s move keeps BTC firmly between $29,800 support and $30,500 resistance. A sustained ... (full story)