BTC - Structure Still Holding
https://www.tradingview.com/chart/BTCUSDT/M0iqCXok-BTC-Updated-Chart-11-21-2023/
Here is a trendline extension of my previous BTC chart updated over a month ago.
This recently crash has maintained our structure (trendlines) that started to be established over 2 months ago. Our wick low went to our dotted green trendline (marking most lows). The candle bodies on 15 min timeframe held support on the (solid green trendline) which has been holding most candle bodies of the trend.
What we want to see now is a 4H/1D Close above our red trendline that was old resistance potentially being flipped into new support.
If we are to see another leg to the downside, our target would be the white trendline & the red dotted trendline. Those intersect around 37.6k.
Here is a trendline extension of my previous BTC chart updated over a month ago.
This recently crash has maintained our structure (trendlines) that started to be established over 2 months ago. Our wick low went to our dotted green trendline (marking most lows). The candle bodies on 15 min timeframe held support on the (solid green trendline) which has been holding most candle bodies of the trend.
What we want to see now is a 4H/1D Close above our red trendline that was old resistance potentially being flipped into new support.
If we are to see another leg to the downside, our target would be the white trendline & the red dotted trendline. Those intersect around 37.6k.
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