#BTC analysis
Today there was a big sell off which seems to be heading to a breaking point of 3400 either up or down, the next support level is around 3215 which would indicate a new channel in which it will move and would probably happen then is a slow recovery towards the 3400 resistance. It the 3400 level is successfully defended it might go up testing what believe is the 3700 resistance at the moment any move further that will create a new level and possibly a very good recovery. We will see what happens next.
Trading view idea and image for better visualization
In my previous analysis the move finished towards the ground and that triggered a new trading channel and possibly new move as you can check here
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When the big sell-offs happen, someone or some institution is buying it with the hope of having their purchase increase in value. I feel the price void around 3200 still needs to get filled in before price starts increasing in value.
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We need to keep watching and see what will happen next!
I have a slight addiction....its called watching price action :)
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