【BTCJPY】The lower support line converts into the upper resistance line?

In the post dated August 1, titled “【BTCJPY】Unable to Hold the Support Line at the Low, Down Break,” we reported breaking news that the important level around 850,000 yen was broken to the downside, and noted the significance of whether the closing price would end up above or below that level. As a result, it closed below that level.

That said, a well-formed candlestick with a lower shadow indicates a willingness to move higher. Earlier this morning, there were moves that exceeded 850,000 yen, but as of the time of writing, it has retraced. Today too, we would like to check the closing price position.