Last weeks high: $26887.5
Last weeks low: $25836.5
Midpoint: $24785.5
Despite a strong end to the week BTC has a lower previous week high and a lower previous week low. In that way we continue to be in a swing downtrend.
A double bottom from last week gives us an area where if we are to continue breaking down we'd have to break below and stay below.
The midpoint from last week controls the bias for me, I think price will find itself there this week and if it drops below and reclaims then the highs are next target.
If price consolidates above the midpoint ands drops below I think we break down towards weeks low and continue trend.
Last weeks low: $25836.5
Midpoint: $24785.5
Despite a strong end to the week BTC has a lower previous week high and a lower previous week low. In that way we continue to be in a swing downtrend.
A double bottom from last week gives us an area where if we are to continue breaking down we'd have to break below and stay below.
The midpoint from last week controls the bias for me, I think price will find itself there this week and if it drops below and reclaims then the highs are next target.
If price consolidates above the midpoint ands drops below I think we break down towards weeks low and continue trend.