Here is an update to our last chart we posted after the inauguration:
Currently BTC is still respecting the trend. If you click play on the last chart, you will see that even with the price collapse it is still being supported by that trendline (old resistance = new support). This is great to see as price has yet again had another successful retest of buying pressure at that line.
Due to the critical nature of this trendline, if price is to continue falling and break below that trendline and back into the range then we will visit range lows again ($90-92k). This is not the highest probability outcome at the moment but one to be aware of.
For now price continues to hold that trendline as new buying pressure.
Currently BTC is still respecting the trend. If you click play on the last chart, you will see that even with the price collapse it is still being supported by that trendline (old resistance = new support). This is great to see as price has yet again had another successful retest of buying pressure at that line.
Due to the critical nature of this trendline, if price is to continue falling and break below that trendline and back into the range then we will visit range lows again ($90-92k). This is not the highest probability outcome at the moment but one to be aware of.
For now price continues to hold that trendline as new buying pressure.
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