BTCUSDT: Two levels I am watching for near term price action
64,850 is the APRIL 2021 peak.
59,000 was the previous highest monthly close in MARCH before the OCTOBER close.
As long as these two levels hold on a HTF basis (weekly & monthly) IMO we are likely very much still in a bull run and about to see HHs and HLs going forward.
Bears want the current breakout to be a false breakout and recent PA is indicating they are trying to fade it.
A HTF close below either of these levels mean we go sideways to down and could trigger a bigger pullback.
59,000 was the previous highest monthly close in MARCH before the OCTOBER close.
As long as these two levels hold on a HTF basis (weekly & monthly) IMO we are likely very much still in a bull run and about to see HHs and HLs going forward.
Bears want the current breakout to be a false breakout and recent PA is indicating they are trying to fade it.
A HTF close below either of these levels mean we go sideways to down and could trigger a bigger pullback.