Simple market structure using the weekly timeframe. If you understand market structure then you will understand my reasoning behind the analysis.
If we drop and close below the weekly support then we go bearish. Atm struture is still buillish as the last previous higher low hasn't yet been broken. If we get buyers stepping in from here, once we get a close above 52k the downtrend that we've been stuck in since since the ATH will be broken.
If we drop and close below the weekly support then we go bearish. Atm struture is still buillish as the last previous higher low hasn't yet been broken. If we get buyers stepping in from here, once we get a close above 52k the downtrend that we've been stuck in since since the ATH will be broken.