The two most important levels in all Crytpo (Trader Explains)

Bitcoin is not my favorite crypto, but its still the big daddy in the blockchain space, and as goes BTC so goes the majority of the market. Its very important to be aware of what BTC is doing even if you don't own it, because it will probably be affecting your other projects and its a good indication of overall market health.

You can see in the above picture that BTC has been downtrending and putting in lower lows, until recently. At least for now we appear to have put in a higher high. The short time gains that have been happening in BTC are a beautiful sight, but do we have a reason to be excited yet?

We are currently trading in between two important Low Volume Areas, which work as support / resistance. Breaking and holding the above LVN (Low volume node) @$12,000 would be the first true sign of strength that we have had since we traded at all times highs. Breaking and holding the LVN below @6,700 area, would be a sign the market is still weak and prices will most likely explore lower. Anything in between right now is simply noise, nothing to get excited or to be worried about.

So dont get caught up in the chop. If BTC hits $11,700 or drops to $7,000 nothing new has happened and its not showing new signs of strength or weakness.