Bitcoin Descending Channel (Trend continuation)
As you can see we are currently topped-out below a major resistance level, I've labelled some areas in which I wouldn't be surprised if there were to be a reversal.
D is where I'd expect the price to go, following my AB=CD pattern. So I wouldn't expect a breakout to the top, but it still has time to occur and still hit the D point.
it's important to note that the midpoint of this channel is also a good support and resistance line and the price often dances around it.
D is where I'd expect the price to go, following my AB=CD pattern. So I wouldn't expect a breakout to the top, but it still has time to occur and still hit the D point.
it's important to note that the midpoint of this channel is also a good support and resistance line and the price often dances around it.
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