OP price action has played within a descending channel for 115 days now. Twice has it tried to break out of it to the upside, with failure as sellers promptly send price crashing to the floor of the channel the 1st time, and an adjacent support trendline the second time. However, there have been 2 wicked breakouts to the downside, suggesting a demand liquidity pool that has been induced but not mitigated just yet.
With BTC likely to test the 15k and 14ks to tap demand liquidity, I expect OP to drop in for a liquidity tap as well, buoyed by the support right there (so pA does't fall off), and then a subsequent retest of the strong resistance at $1.4.
My money is on bulls flipping that resistance to support this 3rd time of asking, for price to go on to test the $2.2 ATH region and likely, price discovery.
With BTC likely to test the 15k and 14ks to tap demand liquidity, I expect OP to drop in for a liquidity tap as well, buoyed by the support right there (so pA does't fall off), and then a subsequent retest of the strong resistance at $1.4.
My money is on bulls flipping that resistance to support this 3rd time of asking, for price to go on to test the $2.2 ATH region and likely, price discovery.