Hi Traders,
So we thought it would be a good idea to take more of a macro stance on $BTC price action.
So you can see that we got a rejection of resistance where a white circle has been drawn where we it kick started the most recent sell off. Where then prices found support and pushing slightly higher. As things stand $BTC still looks extremely bearish in the longterm if it fails to break resistance levels and zones.
There are two key levels beneath ($30,000 + $27,300) which if prices break those levels it'll take us down to an order block ($24,000-$22,000) where theres plenty of liquidity to grab, this is where prices are likely to find support once broken out of the downward trending channel.
Following that order block you can see another 3 smaller order blocks below.
Thanks
MS
⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️
So we thought it would be a good idea to take more of a macro stance on $BTC price action.
So you can see that we got a rejection of resistance where a white circle has been drawn where we it kick started the most recent sell off. Where then prices found support and pushing slightly higher. As things stand $BTC still looks extremely bearish in the longterm if it fails to break resistance levels and zones.
There are two key levels beneath ($30,000 + $27,300) which if prices break those levels it'll take us down to an order block ($24,000-$22,000) where theres plenty of liquidity to grab, this is where prices are likely to find support once broken out of the downward trending channel.
Following that order block you can see another 3 smaller order blocks below.
Thanks
MS
⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️
