Since October 23rd, Bitcoin is printing an ascending parallel channel and tested both support and resistance many times in this period.
Right now, Bitcoin is testing support of a trendline INSIDE the channel, and in the last candles it's forming a downward pattern with lower lows and lower highs.
Honestly, I can't say for sure what Bitcoin is going to do, but, I expect high volatility until tomorrow at 5 pm NY Time.
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Right now, Bitcoin is testing support of a trendline INSIDE the channel, and in the last candles it's forming a downward pattern with lower lows and lower highs.
Honestly, I can't say for sure what Bitcoin is going to do, but, I expect high volatility until tomorrow at 5 pm NY Time.
Want to trade Bitcoin and other cryptos with up to 225x leverage, low fees, and no KYC?
Join BTCC.com now and test one of the first crypto derivatives exchanges in the market founded in 2011 with NO hack/exploit history.
Note
Zooming out the ascending channel in the 4h chart.Note
Zooming out on the daily timeframe and showing the fib retracement since the start of this movement to the top.Note
The yellow trendline that bitcoin just broke in the 4h chart
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.