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#GateSquareMayTradingShare $BTC update
I’ve got a 7 year trend line drawn on dating back since 2019 up until now. It’s roughly above the 60k mark. If we get multiple rejections on the daily at my key 5 year trend line 82/84k ish then we roll over and it isn’t that hard to have confidence in why I think we could roll to 60/70k. These are macro trend-lines hence why I’m confident we can get there given that signs of rejections at around 82/84k occur. Plus I don’t think we break above to the 90s just yet as we are dealing with a 5 year trend line we need to get back above. It doesn’t just crack through like that, it forms a base , a structure such as a lower high / double bottom then attempts again to finally break it. Anywhere between 65-70k would be ideal. I’ve analysed macro structures for a while and even spotted the dump from 73k during BTC halving whilst most people were bullish. Why? Because we ran into our resistant trend line on the monthly. Macro support and resistance are important. Hence why we range between the 60s-80s and then the market will have to decide which way it wants to go.
Option A : crack above the 5 year S/R level above and continue the trend higher.
Option B : lose the 60s and macro 7 year trend line , then we dump even further and we won’t just stop at the 50s because a 7 year trend line is no joke. Of course we would want option A to happen hence why going back to my point of forming a revival bottom type pattern now above the 60k zone (65/70k for example) and of course option A suits alt coins too. That’s all for now
$BTC