Bitcoin in the bullish channel.
As the analysis on the chart.
Bitcoin is currently on the bullish channel (namely the bullish flag, bull flag).
The pattern I found in the 4h timeframe is pretty obvious, and very clear.
If it breaks the upper resistance (preferably with a confirmation), it most likely would be 85K in a few weeks.
Although since 70% or more confidence in terms of probability the bullish flag has, more likely to go up, still if it breaks the lower support, it could be a plummet (target 52.2K). Though, it also can be a false breakout, considering the current fundamental situation.
That's all.
Bitcoin is currently on the bullish channel (namely the bullish flag, bull flag).
The pattern I found in the 4h timeframe is pretty obvious, and very clear.
If it breaks the upper resistance (preferably with a confirmation), it most likely would be 85K in a few weeks.
Although since 70% or more confidence in terms of probability the bullish flag has, more likely to go up, still if it breaks the lower support, it could be a plummet (target 52.2K). Though, it also can be a false breakout, considering the current fundamental situation.
That's all.
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.