The BTC broke the resistance level with a strong bullish bar and now it acts as support. However, the price did not continue going upwards after a breakout. It seems, there are not enough buyers to push the price up. If the price goes down at a new support, it is more likely the BTC bounces back. In other words, it will test the previous structure level. Also, that is the area, where most selling orders are expected to be placed.
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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.