BTC broken structure - key areas to look at
The rising wedge/ ascending triangle pattern was broken by last nights dump. It did happen on a weekend when CME was closed, so maybe it isn't that big of a deal. Or maybe it is hinting of more downside. We really don't know. Only thing we can do is follow price action and see how it behaves level by level.
Key areas:
63k- need to close a 4H above to create a higher high and invalidate downside
58-60k- possible area where price may be rejected
56k- need to close a daily preferably below to create a lower low and confirm downside
50k- support area 1 (horizontal support)
43-45k- support area 2 (21 weekly EMA)
Key areas:
63k- need to close a 4H above to create a higher high and invalidate downside
58-60k- possible area where price may be rejected
56k- need to close a daily preferably below to create a lower low and confirm downside
50k- support area 1 (horizontal support)
43-45k- support area 2 (21 weekly EMA)
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