BTC - Uptrend channel forming?
Updated
After a rejection at 36k, bulls failed to claim back 35k as the the price head back in the 33k range.
However, looking at the 4h chart, we can observe that the price is still contained within an uptrend channel, meaning that Bitcoin could get as low as 32k in the coming days, and still constitute a higher low, as long as it bounces back and manages to close above the previous high (+37k).
However, looking at the 4h chart, we can observe that the price is still contained within an uptrend channel, meaning that Bitcoin could get as low as 32k in the coming days, and still constitute a higher low, as long as it bounces back and manages to close above the previous high (+37k).
Note
BTC is still following the predicted trajectory ; hit the mid 32k, before a solid bounce back to 35k.A retest of the high 36k could soon be on the menu. As stated before, closing above it (37k+) would mark a new higher high, thus confirming the validity of the ascending channel.
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