BTC - Still holding resistance

19 Mei 2022

Here I have outlined 2 very key trend lines. We have our resistance (red trend line) and our support (white trend line) that is currently acting as new resistance. With price action remaining below both these levels we can see another leg to the downside. For us to switch to a more bullish scenario, we would need to close above $31,400 (yellow ray) and hold those key levels as support instead of resistance.