Ignore the noise, when we look at the monthly chart we can see a clear picture of where Bitcoin is at the moment. Looking at the previous run it served as multiple support and resistance flips, highlighted in the green and red boxes. It's no coincidence that the price has stopped at this point. This level is especially important as for a bullish structure we want to see the previous lower high to be surpassed. We can already see a higher low formed on the chart which is a bullish sign, so all we need to see now is for this run to surpass the 10.8k level. The price has rejected at this level many times and there's a chance we can go down from here and form a double top. I've taken profit and would like to see a higher high at the very least before considering a position.
Comment:
Back to the same level, breaking above would be very bullish.