BTC 4H Bearish channel or is it testing supports to shoot itselfBTC has drawn a bearish channel in the 4h time period with decreasing highs and decreasing lows.
We have 3 strong support levels where there are buy orders.
The latest SL would be at 56K, matching the long-term bullish trend.
On the other hand, we have strong resistance at 70555.
In the 1W timeframe, BTC would have to touch 78K - 80K. After reaching these levels, it makes more sense to go down to 56k than not now.
BTC usually reaches its goals with a bang and when you least expect it... curiously, when you think it's going to sh...t, that's when it rises like a rocket...
We'll see what happens this time.