#BTC
There's the Weekly Close that is bringing a reclaim of the blue area as support one step closer to reality
In fact, already this week BTC is showcasing initial signs of downside wicking into this area for a retest
This recent Weekly Close has offered better positioning compared to the late November Weekly Close because this recent Weekly Close occurred above the blue area, technically clearing it entirely as resistance
Whereas in late November, the Weekly Close occurred inside the blue area but the top of the blue area acted as resistance to still reject price into producing a downside wick into $90500 (black)
While an upcoming volatile retest of the blue area is still possible, the downside wick may likely not be as volatile as the late November one
More, the orange technical uptrend has still not been reclaimed which means it may still act as a resistance in the short-term but likely only to facilitate a retest of the blue area as support before becoming reclaimed in the future as well
Continued stability at the blue area, even on a volatile retest, would enable a move towards the $101k resistance above (blue)
