What would happen if the price of #BTC loses the support of $74,000?
If the price loses the dynamic support in the $74,000–$75,000 area (where the green containment moving average is located), the highest technical probability is that a bearish impulse will be triggered on the daily chart.
If that break is confirmed, the structure suggests the following sequence:Movement toward the vital support: The loss of $74,000 would send the price to seek the $70,000 range, which acts as the last floor and key support of the move.
Unbreakable level at $70,000: The $70,000 zone is considered the definitive containment that must not be lost under any circumstances in order to keep the structure alive.
Invalidation on the weekly chart: If the price breaks through the $70,000 barrier and confirms a bearish impulse on the weekly timeframe, the recent uptrend leg would become one of the shortest recorded, pulling the oscillators down into the lower zone within a period of three to four weeks.
If the price loses the dynamic support in the $74,000–$75,000 area (where the green containment moving average is located), the highest technical probability is that a bearish impulse will be triggered on the daily chart.
If that break is confirmed, the structure suggests the following sequence:Movement toward the vital support: The loss of $74,000 would send the price to seek the $70,000 range, which acts as the last floor and key support of the move.
Unbreakable level at $70,000: The $70,000 zone is considered the definitive containment that must not be lost under any circumstances in order to keep the structure alive.
Invalidation on the weekly chart: If the price breaks through the $70,000 barrier and confirms a bearish impulse on the weekly timeframe, the recent uptrend leg would become one of the shortest recorded, pulling the oscillators down into the lower zone within a period of three to four weeks.