BTC/USD
Monthly chart
Zooming into the monthly chart, we can see how important the two levels shown in the previous posts are. Firstly the $46,200 level has been a level of multiple support and resistance flips, with most recently being the last up candle before the loss of the $30K support, and, in turn, this candle is now a bearish order block.
Now to the yearly close of $16500, we can see how the price this month is currently finding support at this level. If lost and flipped into resistance, this will be bearish and increases the probability of lower prices
