Bitcoin does not seem to have lost its last chance to return to the uptrend.
According to the chart, 60-week-old ema is considered a big support. We have to wait and see if this support can push the market up again.
There is also one of the most important trendlines in this area.
Considering the price channelized behavior, I expect it to grow well from this price range and reach the middle channel after breaking the two identified resistances. Positive divergence is also seen in MACD and RSI.
Due to the reaction of the price to the floor of the canal in the past, then we see a sharp rise in prices twice when it hits the floor. It is now hitting the bottom of the canal a second time and it remains to be seen whether the events of the past will be repeated or not. It seems that the rest is over and it is ready for a good growth.
Previous analysis update
Given the price channel and previous price reactions to these lines, it can be concluded that it is currently on the support floor. Also in terms of Fibonacci, it is at the level of 0.618%, which can act as a strong support area. If you leave the downtrend channel, it can reach the previous price ceiling in the first stage, and in the...