Bitcoin is testing a major downtrend line at the $46K

Dec 29, 2021

As of now this gives us a simple reason to keep an eye on holding 45.5K (it falls on an important trend line). The other, more important factor that comes into play is that the VPVR (Volume Profile Visible Range) for much of 2021 shows a large drop in volume support from 45.5K to 40.5K. This means that losing 45K could easily mean a quick drop to 40K, which as it stands now is where our largest volume driven support of 2021 lies.