In this 4-hour chart analysis, a descending channel has been outlined as a potential scenario in case the market pulls back.
If Bitcoin corrects, mid-channel support is expected to act as the first reaction zone. Should that level fail, the lower boundary of the channel may serve as the next key support area and potential bounce zone.
Note: This is not financial advice. Always manage your risk and trade based on your own strategy.
If Bitcoin corrects, mid-channel support is expected to act as the first reaction zone. Should that level fail, the lower boundary of the channel may serve as the next key support area and potential bounce zone.
Note: This is not financial advice. Always manage your risk and trade based on your own strategy.
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If Bitcoin breaks above the channel, there’s a chance it could start a strong bullish move and even print a new ATH!
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.
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.