Bitcoin looks to be attempting a breakout from a large descending channel. 4 hour chart shows price currently consolidating within a wedge above channel resistance. If we break to the upside, this would expose a price target of $13,000. Wedge support comes in around $11,500. A break from the wedge to the downside would expose $10,000, which is the heart line of the descending channel.
Will be watching for a clear breakout / back test from the wedge.
Will be watching for a clear breakout / back test from the wedge.
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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.