As you see, we are at the top of the channel that has been intact for much of this year. A healthy correction could see us drop to the base of the channel, or Bitcoin could continue to consolidate and break through the top of the channel if this FOMO energy continues throughout the Holiday season.
Comment:
FYI, this will likely consolidate much faster than the purple and teal lines on the chart. If momentum continues, we see 16500 by the end of November and likely charge upward from there into December.