I'd at least expect a retest of $5k soon, as it is a major attractor of price.
A break of this trend line, that has shown support for almost a month now, syncs up with the near-term 50% area of $3,800.
Don't get stuck watching only low-time frame charts.
Always start with high-time frames when you draw your support and resistance levels.
I use a weekly and daily and work my way down to as low as a 30 minute.
The higher the time frame of a level, the stronger it tends to hold.
A break of this trend line, that has shown support for almost a month now, syncs up with the near-term 50% area of $3,800.
Don't get stuck watching only low-time frame charts.
Always start with high-time frames when you draw your support and resistance levels.
I use a weekly and daily and work my way down to as low as a 30 minute.
The higher the time frame of a level, the stronger it tends to hold.
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