@ColinTalksCrypto 27 July 2023 more from that month

Bitcoin's likely path

BTC continues to roll over as evidenced by: • Lower highs and lower lows • Double rejected from underside of $29.6k resistance zone (red line) • BTC just double tested the EMA 8 and 34 (green and yellow lines) from the underside and was rejected twice. Where is the next support? $28.5k. If this doesn't hold, which is quite possible, $27.3k is the next, extremely strong support level. I expect a likely rebound from here if it drops this far. At $27.3k we have: • the 200 weekly moving average • the 200 day moving average and • the past price structure All forming a massive support level (white oval on the right). It will be difficult to breach this and is very likely to rebound from here.