Using the tool that I created we can easy build a channel based on Pivots instead of linear regression (behavave similar but with some diffrence)
If we use daily chart then we expect the btc to drop to area of 7900-8300 and if it keep this level then we have real correction and from there we will break up back to area of 14000 and higher (this is a positive scenario)
This cahannel based on monthly pivots
Using 1 hour and weekly pivots
we see a case where btc drop to 9300 and from there we bounce to 10200 before next fall to area of 8300
So as long BTC will not fall bellow 7900 we are in a strong uptrend cycle, if it keep the 9300 then we may bounce up from there..
If we use daily chart then we expect the btc to drop to area of 7900-8300 and if it keep this level then we have real correction and from there we will break up back to area of 14000 and higher (this is a positive scenario)
This cahannel based on monthly pivots
Using 1 hour and weekly pivots
So as long BTC will not fall bellow 7900 we are in a strong uptrend cycle, if it keep the 9300 then we may bounce up from there..