Technical analysis by them8 about Symbol BTC on 5/16/2023

What's the most important confluence of trend reversal? MSB - Market Structure Break. Normally you would draw the lines at previous extremums and check when the price goes through - brake them. That's where the name came from. But let's just think... We got a bearish MSB, what if price at some point of a time will go higher then that Line and close above it. Does it mean we are losing Bearishness? Probably. That's one of many confluences we need to get. Now look at 1 Month chart BTCUSDT. Is the price respect the Low from June 2021? Definitely. 15 more days till monthly close, just some ideas to think about, at least now you got a level to look at. 29247usd, Bitfinex exchange.