Bitcoin Bulls Pushing with this upwards channel

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
This is an extra update, separate from my main Bitcoin analysis. Just trying to judge the strength of the bulls of the past days. This channel here seems to be real and it's always a matter of time until it breaks down, but we obviously can't know when :). Since my assumption is that it's time to see a correction, i think it's getting close. Bears did an attack just now, but bulls have pushed back just as fast once again. Something we have seen several times past 2 weeks. Started to look as if the 8700ish would break, but it has held so far.

I do think, that if we see a fast push up coming hours, it could become a trap move. So if we see a break upwards and a fast move back inside of the channel, it will become very likely to see it break the support line as well and see an even bigger drop .

Current Bitcoin analysis:

Jan 14
Comment: No bounce, also not a break. A break down is more likely at this point. Think 8800/820 is the max for bears being in favor short term'

Jan 14
Jan 15
Comment: The red resistance around 8920 worked, broke down but no dump. Went up quite a bit since, making a possible double top. If 8650/80 breaks and eventualluy 8600ish as well, we could be headed to 8300 even. This double top turning into a bullish triangle is also still a realistic option at this point, but 8650 has to hold

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Good job
Nice chart.

Wonder what will be stronger stronger, top of this pennant or support from green parabola? Next few months are critical.

I think BTC will be supported by ichimoku third time in a row. And will meet the resistance on 9050 at least.
Nice call
decent work
what's your opinion about this?
good idea) btc will continue to grow after break resistance
I think everyone is waiting to short Bitcoin lol :)
Botje..Do you think the alt market is here and will surpass bitcoin again ?!
mishondrakis mishondrakis
@mishondrakis thanks to botji, again winning shorts!!! #thanks man.
+1 Reply
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