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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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.