The RSI indicator has formed a descending channel

Bitcoin in its ascending channel has almost the same situation as the range trend, which crossed the dynamic resistance of the descending trend line last day by reacting positively to its supports.

The price hit the $23,249 - $23,441 resistance, which was exactly the opposite reaction, and the price made a bearish move in the opposite direction to the trend line for a pullback as soon as it hit this level.


Bitcoin's higher resistance levels require special support from the buyers to break, which is unlikely to continue the strong move as the price approaches the supply ranges.


But in any case, as long as the bottom of Bitcoin's ascending channel is maintained in the $22,500 range, we can expect Bitcoin to remain in its current state.

The RSI indicator has formed a descending channel in the 4-hour timeframe, which, if the ceiling of the channel is broken and the next divergence is observed, we can consider a stronger possibility for Bitcoin price correction.