Well we've been watching this stair stepping down pattern and BTC stuck under our EMAs for a while now. Ideally did not want to see another re-test of what I outlined as critical support down around $7400-7750 range back in September. We tested it once last month and it held and gave a significant bull move of 40%+. And here we are again giving all of that move back and re-testing our same area again. Generally I do not like re-testing areas and I view them as jumping on a glass table. If this support zone was our glass table initially and we did not want it to crack and cave to send us to the floor. It worked, bulls responded and gave a solid bounce off the glass table. Here we are again jumping on the same glass table and thus far bulls giving a small bounce off again but repeated jumping on a glass table is unlikely to be beneficial and we could see it break and send price to the floor (floor being unknown). So lets see if this re-test of our support holds or bears are able to crack it this time
Just My 2 Sats!
Just My 2 Sats!
