BTCUPDATE - 23.5.21
Looking like we holding under the downward trendline since 9th May.
With the support at $33.8k it is coming to a bit of a potential turning point - the next 24 hours will show a strong breakdown or the potential start of the reversal.
Reversal Confirmation
To breakout of this downward channel on the daily and 4hr, and close on the daily - this will show a very good chance of BTC Recovery - keep an eye on the dominance if that starts to fall when BTC starts to pump then keep an eye on ALT's as they will start to pump hard.
Breakdown:
Losing the $33.5k support can quickly see us down to $28.7k - if there is any FUD news when we are on this support it will almost definitely break down.
Looking like we holding under the downward trendline since 9th May.
With the support at $33.8k it is coming to a bit of a potential turning point - the next 24 hours will show a strong breakdown or the potential start of the reversal.
Reversal Confirmation
To breakout of this downward channel on the daily and 4hr, and close on the daily - this will show a very good chance of BTC Recovery - keep an eye on the dominance if that starts to fall when BTC starts to pump then keep an eye on ALT's as they will start to pump hard.
Breakdown:
Losing the $33.5k support can quickly see us down to $28.7k - if there is any FUD news when we are on this support it will almost definitely break down.
