BITCOIN (BTC) - Need to break the current channel shown
BITCOIN is currently looking quite neutral after a small relief rally. We need to break the current Fibonacci Speed Resistance fan channel shown in blue in order to unlock some proper upside. This channel has been the catalyst behind quite a few recent sell offs after relief rallies. Let's see if it will be different this time around.
I have linked my previous analysis on Bitcoin, which originally highlighted this current zone as the bottom. As we have not seen any large upswings over the last month, my standpoint is starting to convert from bullish to neutral, as we approach the resistance line highlighted in blue.
I have linked my previous analysis on Bitcoin, which originally highlighted this current zone as the bottom. As we have not seen any large upswings over the last month, my standpoint is starting to convert from bullish to neutral, as we approach the resistance line highlighted in blue.
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