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#BTC strongly challenged the $69,200 support level, which, to some extend also got breached but is now being attempted to get secured back. Interestingly, this recent dip lower has started to show a bullish divergence on RSI.
At the same time, there is a CME gap left above price, which sits in the $70,400–$70,800 region, acting as a near-term targeta as well.
Price is currently trading below immediate resistance at $70,800–$71,000, followed by stronger resistance at $71,598 and $73,100.
From here, reclaiming the $70,400–$70,800 region can open the door for a move toward $71,600, while holding above $69,000 support keeps the recovery scenario intact. However, losing $69,000–$68,800 would weaken the structure and expose $BTC to deeper downside towards $68,200 and $67,000.