Possible Stopping point for BTC?
First off, wow. What. A. Time. To. Be. Alive.
Love seeing BTC rise again, but buyers may soon be exhausted after the last major leg up. I know this doesn't qualify as a channel yet, but I drew one anyway, sue me. The $660 level is a possible stop point due to the 50% retrace from the all time highs years ago. The supporting rising trendline on the bottom is solid so expect price to bounce back upwards when we inevitably test the rising trendline.
Love seeing BTC rise again, but buyers may soon be exhausted after the last major leg up. I know this doesn't qualify as a channel yet, but I drew one anyway, sue me. The $660 level is a possible stop point due to the 50% retrace from the all time highs years ago. The supporting rising trendline on the bottom is solid so expect price to bounce back upwards when we inevitably test the rising trendline.
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