BTC is entering into a downward channel and should be popping towards $9,000 area once it breaks out of it. BUT if it should break below the support of the channel, it can get ugly. So set your stop losses kids.
As you guys can see here, a upward channel is present and BTC is within the channel or potential bull flag. A break of $7,600 would send it rocketing, but if it breaks below the channel support, we can see it testing major support zone again.
Tested $6,800 once before and crashed, as can see from the 180 chart. Now testing again, if once again rejected, RIP. The green line is the one year trend support line since November.
