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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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.