We have a trend since 2015 and we are now on that support. Days like this make or break traders. A weekly close significantly below current levels would fundamentally change the structure of the chart and should cause pause for thought as to whether BTC is gaining value over time. A weekly close above the support line is yet another confirmation of the many times this support has been tested and eventually leads to a price much higher than the 2017 peak.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.