Bitcoin not out of the downward channel
As you can see on the chart yesterday bitcoin climbed out of the downward channel but today has fallen back into the downward channel. This won't be a big deal unless bitcoin falls below the goldd upward trend line on the chart.
If bitcoin was to fall below the goldd trend line this would show that this isn't a ending to this dip that has been occurring across the month. I dont think we will fall back down however as this slow moving uptrend has created a lot of support below us.
Tomorrow will be a big day as bitcoin will need to settle either above or below the downward trend channel. I still believe if it does settle above the downward channel there will be a strong push through the 12200 resistance point.
If bitcoin was to fall below the goldd trend line this would show that this isn't a ending to this dip that has been occurring across the month. I dont think we will fall back down however as this slow moving uptrend has created a lot of support below us.
Tomorrow will be a big day as bitcoin will need to settle either above or below the downward trend channel. I still believe if it does settle above the downward channel there will be a strong push through the 12200 resistance point.
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