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BTC Update:
This month is critical for BTC as it could determine the trend-level direction.
This post is based on one of my oscillators.
White boxes show the support zones.
Red box marks the breakdown point of the last cycle.
Green box indicates the start of the current uptrend.
A negative divergence is observed on the oscillator, signaling weakness in the trend - similar behavior was seen during the November 2021 top.
👉 The negative divergence would be invalidated if BTC makes a new high.
As the price is still above the support zone (the oscillator is above the white dotted line - see the yellow pointer), the uptrend remains intact.
👀 However, it’s very near a critical support zone.
#Bitcoin #BTC $BTC #Crypto