After an up move into the , the trend has stalled, and we stalled again giving us a at demand. We have multiple reversal patterns at the top of the range, showing us graphically where the bears were going to step in.
UPDATE: Since the momentum began, we have had very thin trading activity (Due to festivities and the such obviously, but not bothered, looks weak, and will look for the downside regardless of whatever happens.
There is a possibly in play, with the PRZ#1 and expiry some distance away, so we won't see them until the future, however, the bears might start putting pressure to the downside towards these levels. Will update in the future.
Best of luck
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The botom red line is the historical floor. It comes before the bubble, and the bubble before. I would be surprised if the price goes where you pointed. I was so categorical because for me is like saying price will go to -3 which is impossible. I think the price is being squeezed up to your sideway resistance and it will surpase it. Cheers.
But most importantly. Because, you did not know the direction, and neither did I. If you was sure you would be in a beach house in Miami but you're not. It's easy to laugh at the opposite pole when it's in hindsight.
Your chart is talking about taking out 9 month $220 support with the halvening coming up and go and sit on new lows after we broke the 200-300 range and then test 300 as resistance turn support..
Like.. This is purely a technical chart. No knowledge of BTC clearly beyond candles on a chart.