BTC finding Support
BTCUSDTBTC/USDT
1 Week Timeframe
1 ChoCH - Change of Character with 31Oct22 & 9Jan 23 breakinng swing high candles with having market structure shift to the upside.
2 Finding support at around 21k in (white line) corresponding to the Trendline (yellow)
3 Still on Wave 1 and 26k was hit and if it continuously goes bullish next target is at 34.5k which is our Equilibrium box
4 The Equilibrium box is at 37.9k to 34.5k finding a strong resistance
5 Descending wedge two downward sloping trend lines. The lower trend line is steeper than the upper trend line, indicating that the selling pressure is stronger than the buying pressure. It breaks to the upside. However, we had the FTX collapse which is why the price moved further down before going up and recovering.
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