Break below the orange line, move lower.
Break above the horizontal red line, move higher.
I think $BTC still has some room lower and certainly today should move lower.
Notice all the selling in the volume. Reversal not happening yet.
I do strongly believe that the lowest we will go is 19-20k. It is possible we don't get lower than 24k. Or maybe we don't even break the ~30k area. No one can know for certain. Perhaps I will document my mid-term hypothesis as well in another post.
Break above the horizontal red line, move higher.
I think $BTC still has some room lower and certainly today should move lower.
Notice all the selling in the volume. Reversal not happening yet.
I do strongly believe that the lowest we will go is 19-20k. It is possible we don't get lower than 24k. Or maybe we don't even break the ~30k area. No one can know for certain. Perhaps I will document my mid-term hypothesis as well in another post.