Yesterday I told you that the huge limit purchases holded the price above $21k. The local flat on 1h timeframe looked like accumulation, but today we received more information which cocerns me.
Let’s take a look at the 1h timeframe BTCUSDT chart of the Binance exchange. Today the price broke through the countertrend line resistanse. On the first glimpse it is the bullish sign, but this breakout was on the sideways without volume – looks like sign of weakness. Moreover sellers activated their pressure at $21800 creating the strongest resistance. Here is the local supply zone 1 have been created and now it will be the difficult task to break it through.
Even if the price will be able to overcome $21800 the next strong supply zone at the $22500 (supply zone 2). Losing the support trend line will cause the bearish scenarion without any significant bounce.