Bitcoin continues to progress steadily within its long-term rising channel. The price is currently consolidating at the lower band of the channel, gathering strength for the next strong upward wave.
On the downside, momentum has been held by the major descending trend resistance that has persisted for months. A break above this resistance line would signal a strong shift in momentum, as seen in the past.
The technical structure is creating simultaneous bullish potential on both the price and momentum sides, signaling that the bull run will be more intense in the coming period.
The rising channel is being maintained.
Momentum is poised to break out.
On the downside, momentum has been held by the major descending trend resistance that has persisted for months. A break above this resistance line would signal a strong shift in momentum, as seen in the past.
The technical structure is creating simultaneous bullish potential on both the price and momentum sides, signaling that the bull run will be more intense in the coming period.
The rising channel is being maintained.
Momentum is poised to break out.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.