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Supported by it back here. This red line and Bitcoin also got supported by it right here back in 2018 2019 and currently .
We can see how Bitcoin is actually bringing this and essentially what we will watch it wasn't this weekly close and the variation uses now that Bitcoin gone and in fact if we couldn't stand being alone and the prices as I'm recording this Donut 4.6 approximately.
So this means that we now have a week ago below and of course we are going to have to watch this next weekly and this means that the 200 weekly is now lose you act as resistance. And this means that we are in a new type of environment.
We haven't been in before because we've always been above it being below it and seeing it act as resistors is something okay. So what could happen is a retest of the the 200 weekly in the A few days if Bitcoin goes back up and retest the 200 we have to pay attention because it's been cool gets rejected that it is quite possible because that would like to see another link down and I think he potential Target in that case could be 3.5 thousand and the reason
why the $3,500 level could make sense because of the Gap, let me just show you because if we zoom into the for our ladies sort of ZB Futures chart, you can see that there is a gap an unfilled gap on the four hours.
All the way down to three thousand five hundred and seventy dollars. However, let's also keep in mind that the daily chart is what matters and what was thought in terms of these gaps before hourly does not carry as much significance.
I just want to point that out because because with this looking you could go into the one hour to the 15 minutes to the one minute then the 3 second chart you will find many many gaps that were unavailable.
So I just sometimes I pay attention to the for hourly gaps, and I just want to State the facts. There is a gap down at 3517. But yeah going back to this bolts chart. Let's go to the Daily and see if we can find some type of support so that could hold. Well, first of all, we can see them both pointed get supported by the previous resistance as you can see here.
This is the the range with that acted as resistors back in about this. That's currently we got supported here. The next major support below this level would obviously be the rules of the same training room. And this would be their $3,100 level approximately if we extend this zone out here will be the first place.
So resistance support and this lady continue to have the support and the absolutely most very scenario is where become breaks down below three point one thousand. And I'm just going to say that I don't really believe that that is going to happen at least not in the immediate shorter. We've already seen a massive massive fall. I mean ever since we broke down Blues Head and Shoulders out of this breakup out of the Nick mine Bitcoin has fallen.
I mean presented to where we are right now some kind of impulse at some point needs to happen. But let's just point out the lowest Targets in a bearish personal the next logical support would be Here, I think we're Bitcoin did get supported by. July 2017 this range is approximately
the two thousand dollar range down to $1,900. And as of right now, I don't want to go lower than that because right now I don't want to spread unnecessary fear.
I personally don't think that beetle is going to go lower than this.
So guys, please leave a comment down below