BTC has been following along it's current trading channel for a while. However it's running out of time for a decision.
Each time BTC tests the upward trending green line, it weakens. I've noticed over the years that the fourth or later attempt is usually when resistance/support fails. However, Bitcoin has already hit support a fourth time and survived (marked by the yellow support arrows on the chart).
The difference is, BTC is running out of time to decide. If it breaks the top green line, BTC will go to new all time highs. If falls below the upward trending green line it will drop down towards previous support levels.
Watch for it to break either green line and trade accordingly.
Each time BTC tests the upward trending green line, it weakens. I've noticed over the years that the fourth or later attempt is usually when resistance/support fails. However, Bitcoin has already hit support a fourth time and survived (marked by the yellow support arrows on the chart).
The difference is, BTC is running out of time to decide. If it breaks the top green line, BTC will go to new all time highs. If falls below the upward trending green line it will drop down towards previous support levels.
Watch for it to break either green line and trade accordingly.