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Price action talk: ( bitcoin )
Downtrend: 2 validation points
Uptrend: 3 validation points
#1: Lower highs, and lower lows being painted on the chart, looking for a retest of $10,900 - $11,000 (trend needs 3 validation points, we have 2 on resistance and support. also, we're sitting under resistance which tells me lower support levels need tested according to structural integrity.
#2: Appears to be rejecting code red (channel)
#3: A move to "3" would test the fundamentals and structural integrity at this level.
#4: This area has no structural support and i'd like to see more fundamentals as support. which would take us back to $11,000 where we'll either bounce off support or break downwards towards $10,500.
#1: Currently at mid-range, low range being swept could signal a possible buy around $10,950 - $11,085. Pay close attention to that level if it gets tapped.
Invalidation: $11,500 gets flipped into support triggering a leg up to $11,800.