BitcoinUpdated Current Weekly Chart Channel on BTCUSD
We can see the bottom trendline has held support thus far and the red double bottom neckline is holding wick support. Definitely key trendlines to watch in the near future. I could see it retesting the red neckline once the weekly 50ma(in orange) comes up to overlap it for double reinforced support. *not financial advice*
Note
Just closed a daily candle above the channel. If we can close a couple weekly candles above the channel the channel’s breakout target will be around 38111.Note
Channel breakout confirmed very close to its 38111 target however it may exceed that.Note
Target hit and exceeded
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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.