Bitcoin Channel Surfing

Updated

long-term Bitcoin bull and not making any short price predictions, but these trendlines could be interesting if Bitcoin continues to respect the channel.

Trade closed: target reached

will change my view if price breaks out of the main channel, but as of now, will be looking to buy at the top of the middle channel and the redline support... if those don't hold, I will look at the bottom of the middle channel and bottom of the main channel as the last support. these long term trendlines seem to be respected, but a break out of the channel at this level could lead to a parabolic price run.

Note

price range for the next two weeks for each of the channel support lines:

$9100-9200 (top of middle channel)

$8000-8100 (orange line)

$6400-$6500 (bottom of middle channel)

$4500-$4600 (long term channel support)

youknowram

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