Bitcoin has entered an uptrend channel since the beginning of this year and has reacted to the ceiling and floor of this channel 7 times until today, but today, for the first time in the last 100 days, heavy supply on the channel floor caused the price to pass, if If the price stabilizes below the channel and the failure is confirmed, it can be the beginning of a downtrend if we assume that Bitcoin is one of the important leaders in the crypto market. This issue will affect the other currency pairs as well!
Now we have to pay attention to the price return, if the price returns strongly and re-enters the 100-day bullish channel space, we can say that this is a BOF Price Action and there is no need to worry, but if the price returns poorly and reacts to the body of the channel It should be considered a pullback.BITBAY:BTCUSD
Now we have to pay attention to the price return, if the price returns strongly and re-enters the 100-day bullish channel space, we can say that this is a BOF Price Action and there is no need to worry, but if the price returns poorly and reacts to the body of the channel It should be considered a pullback.BITBAY:BTCUSD