BTC scenario: strong upside potential
Updated
BTC looks to be moving inside a descending channel.
On the other hand, a long-term trendline could provide strong support to price action.
If current resistance holds, a compression area with a strong upside potential could be forming.
To be watched closely..
On the other hand, a long-term trendline could provide strong support to price action.
If current resistance holds, a compression area with a strong upside potential could be forming.
To be watched closely..
Note
We're currently testing the upper bound of the descending channel.Since resistance seems to be holding, we could have some downside price movement in the near future.
I'll keep watching this: the stronger is price compression, the bigger will be the upside movement.
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