Bitcoin is currently moving inside a defined parallel channel. On a larger timeframe, we can also see a defined range with support around $6600 and resistance at ~$7170. I believe we should see high 7100s in the next few days but ONLY for a brief period before dropping to a level within $6400-$6600.
Crossing above $7500 or below $6400 would be considered a breakout, and further analysis will be needed then.
If you agree with this chart please give thumbs up! Would love to hear your comments as well.
Crossing above $7500 or below $6400 would be considered a breakout, and further analysis will be needed then.
If you agree with this chart please give thumbs up! Would love to hear your comments as well.
Comment:
Don't get too excited just yet. BTC hit resistance and it seems to be going down again.
