Monthly bitcoin channel
It seems Bitcoin has developed this long term channel.
Whenever we cross the middle line of the channel we tent to test the upper resistance line.
Same applies for when we have crossed under, we tend to retest the bottom of the channel.
This paired with the 8EMA using it as our support area for the current cycle.
the chart is still undecided and this month will be telling to see what happens.
Depends on the stock market and how "risk on" investors are toward the end/ beginning of the new year.
Whenever we cross the middle line of the channel we tent to test the upper resistance line.
Same applies for when we have crossed under, we tend to retest the bottom of the channel.
This paired with the 8EMA using it as our support area for the current cycle.
the chart is still undecided and this month will be telling to see what happens.
Depends on the stock market and how "risk on" investors are toward the end/ beginning of the new year.
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