BTC Resistances & Supports
After breaking below the 7.2k level decisively, we can now assume this level will act considerably as resistance on the way back up.
Above 7.2k, the level that acted as resistance on the way up during the most recent uptrend at 7.8-7.6k.
The .236 fib lines up with the horizontal level of previous resistance from 6.9-6.7k that gave price strong reactions throughout June and July before finally breaking above said level.
This previous price action is indicative of a level that will act as support on the way back down.
Above 7.2k, the level that acted as resistance on the way up during the most recent uptrend at 7.8-7.6k.
The .236 fib lines up with the horizontal level of previous resistance from 6.9-6.7k that gave price strong reactions throughout June and July before finally breaking above said level.
This previous price action is indicative of a level that will act as support on the way back down.
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