TheTravel1ngTrader

BITCOIN: This time it's different

BINANCE:BTCUSDT   Bitcoin / TetherUS
It's no secret Bitcoin has been in a long descending channel since last year. Bitcoin has hit support and resistance so many times that this trend is as real as a heart attack. As we know, descending channels usually break to the upside when the trend ends. Also the Bitcoin halving in May is coming up and we usually see a gradual incline leading up to, and after the halving. We have tested resistance of the descending channel many times and have retraced accordingly. As a matter of fact, Bitcoin has been one of the easiest swing trades for over 6 months.

However, this is why this time IT COULD DIFFERENT:

Volume! If the VFI ( Volume Flow Indicator) can get above 0 while trending upwards and still knocking on resistance we could finally break through. And once we break through we will likely be on a path of establishing new highs gradually after the halving. So watch the volume and the VFI as this could be the time we break the descending channel .

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