Bitcoin dives to $63,000 after carving out a double top at $66,500

Bitcoin dives to $63,000 after carving out a double top at $66,500

Volatility stays high

Volatility stays high

News that the BITO ETF is pushing towards position limits in CME bitcoin futures contracts is a concern for the crypto market. We may also seeing more profit taking with bitcoin  down 4% today.

A quick $1200 move lower in the past few minutes comes on a break of session lows. The short term chart shows a minor double top near $66,500. The measured target on that takes it close to $61,500

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