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BTC - what if it's lower than $56 522?
On May 21, the BTCUSD chart formed a model on the weekly timeframe that describes the key logic behind the price movement.
The model was confirmed by touching the trend line:
After an unsuccessful attempt to retest the trendline between June 5 and June 8, the price retreated towards the 4 point ($56 522).
Right now the price is trying to consolidate above this level, but ifBTCUSD still fails to trade higher during the week and goes back under $56 522, we could see price levels like $43 349 and $33 229 in the long term.
BTCUSD chart formed a model on the weekly timeframe that describes the key logic behind the price movement.The model was confirmed by touching the trend line:
After an unsuccessful attempt to retest the trendline between June 5 and June 8, the price retreated towards the 4 point ($56 522).
Right now the price is trying to consolidate above this level, but if
BTCUSD still fails to trade higher during the week and goes back under $56 522, we could see price levels like $43 349 and $33 229 in the long term.
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