6th week for BTC to attempt higher and fail to do so, again with this recent negative movement. When its all in line like that it can be assumed to be fair resistance going forward.
I noted the higher prices but for confirmation and accuracy I think 120k is the line in the sand to note the tidal movement. Target downside is 110k first then 97k then I would expect a break upwards again.
First of all of course BTC isnt yet negative at all; Im merely noting the repeated failure to the upside and direction is never singular for something as serpentine and slippery as BTC in its moves.
Felt like that last sell down was a stop run to wipe away late longs. Lol. It really felt manipulated imho. And it wasn't something that could signal the start of a trend back down from the current range. But that's just me, I could be wrong.
As for the down side going to 110k then to 97k... Lol. It doesn't look like it rn. I wanna see it break down 115k first before we entertain those thoughts of trending down to those ranges. Too early to be bearish.