This looks like an expected Bitcoin path to me. We are still adjusting to the unsustainable breakout, where the price nearly doubled in two weeks in late-June-early-July, but things have balanced out and we are near the middle of the channel. Right now things could go either way, but I seriously doubt Bitcoin can drop below the $11k support
Note
A break above the top of the channel at any point in the future would invalidate channel and lead to high gains in the mid and long-term
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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.