【BTCJPY】Unable to hold at support line, breaks downward
In the post dated July 29, titled "【BTCJPY】Continued: How to read the consolidation on the 4-hour chart?", we noted that the consolidation shown on the 4-hour chart would likely break in either direction within a range centered around about 9.5 hundred thousand yen, with a width of about 50,000 yen up and down, and the focus was on which side it would break. Then, starting from this morning, a decline began, and a break occurred below the support line around 850,000 yen.
So, regarding this approximately 850,000 yen level, where will it end today? Will the downside break become more pronounced, or will it end in faultless ambiguity? It seems to be at a crucial juncture.
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