Entering a nice dense support area.
1. The old resistance of the larger descending channel now turned support. (Dashed line)
2.The 38.7k level.
3.The support of the lower trend of the ascending channel we are in.
If we are going to reverse and carry on this bullish trend I'd say it's is likely to happen here, but if we break this level the next safety net is around the 35k level so we could see a dip down to this zone.
1. The old resistance of the larger descending channel now turned support. (Dashed line)
2.The 38.7k level.
3.The support of the lower trend of the ascending channel we are in.
If we are going to reverse and carry on this bullish trend I'd say it's is likely to happen here, but if we break this level the next safety net is around the 35k level so we could see a dip down to this zone.
Comment:
Looks like Bitcoin has instead gone down to test the 37.2k support, potentially squeezing out the last of the bears before we can continue this short/medium-term bullish trend up to 44k.