BTC - Important LTF Update
We also have very important structure being built on the LTF (lowertime frame) 4H.
The support being built around $69,000 looks amazing. This shows our old resistance on the LTF is being flipped into new support.
If we do have any more downwards price action below this level, the next area that could be defended is $68,200-$68,500.
This final level that would need to be defended if we do get a further drop is $66,000. This would be a higher high on the mid term scale and would still show bullish momentum.
All in all, the structure being built right now looks very solid and could be the staring point of this next leg to try to break the ATH.
The support being built around $69,000 looks amazing. This shows our old resistance on the LTF is being flipped into new support.
If we do have any more downwards price action below this level, the next area that could be defended is $68,200-$68,500.
This final level that would need to be defended if we do get a further drop is $66,000. This would be a higher high on the mid term scale and would still show bullish momentum.
All in all, the structure being built right now looks very solid and could be the staring point of this next leg to try to break the ATH.
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