BTC- Still holding strong resistance.

22 thg 8, 2022

A few days ago we broke our long term parallel support channel. Everytime we have gone to retest that support line (Blue line) we have found heavy sell pressure. We are still holding the "Line in the sand" which means we can continue to chop between that support zone and our new resistance level before breaking below that key support level and crashing down to our next key zone between $19,200-19,500. It is possible we wick to around $22,400, but as long as daily candle bodies continue to close below our parallel channel we will have more downside for price.