Simple BTC analysis. Based on the previous month's highs and low

Many remain uncertain after the December third flash crash. As always, the Bulls and Bears are battling over who will dominate the market soon.



I base the idea on previous monthly highs and lows as supports and resistance levels. The highs on the chart are red, and the lows are green. I believe the price has bounced off its low from October, finding buyers and previous holders who have stopped the bear rally for now.

As you may know, resistance levels can become support levels, and vice versa; support levels can become resistance levels.
This is an example of how a previous support level (November) becomes a significant resistance level: November low + September high, respectively. 52700-53700 roughly. BTC will face a considerable challenge to continue the bull rally if it fails to cross this area.

* Critical channel support and resistance pointed with blue arrows.
* Added Diagonal support/resistance.

I wish you the best of luck in your trade.

I'd like to hear your opinion.