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BTC has been moving sideways with a $7,000 resistance level into the support of this rising channel. There is a chance we move one last time into this 0.618 level at $8,000 before breaking down, however we cannot discount this channel breaking to the upside - which is less likely. If this channel breaks the support sooner rather than latter, we would be looking at a measured move target near this 4H demand zone at $4,500 or so.
Not financial or trade advice.
BTC has been moving sideways with a $7,000 resistance level into the support of this rising channel. There is a chance we move one last time into this 0.618 level at $8,000 before breaking down, however we cannot discount this channel breaking to the upside - which is less likely. If this channel breaks the support sooner rather than latter, we would be looking at a measured move target near this 4H demand zone at $4,500 or so.
Not financial or trade advice.
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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.