Now that we have seen BTC break down from its 4+ month uptrend, we can look for our potential lower high targets to start a brief downtrend.
Right now price is at a crucial level battling $42.2k. This could be a major rejection level before a test of lower lows.
If we are able to break above, we could see price test our red box between $43.8-44.8k. This would be testing our old support trendline as new resistance. It would also create a lower high which would most likely lead to another lower low.
Keep this chart in mind as price plays out through the next couple weeks.
Right now price is at a crucial level battling $42.2k. This could be a major rejection level before a test of lower lows.
If we are able to break above, we could see price test our red box between $43.8-44.8k. This would be testing our old support trendline as new resistance. It would also create a lower high which would most likely lead to another lower low.
Keep this chart in mind as price plays out through the next couple weeks.