BTC on the Intersection of Many Supports
Although we seem to be among the rising channels in many analyzes, I would like to bring an alternative perspective to the situation.
Considering that we are in a falling channel structure divided into layers, we can see that BTC has been priced in a thin range that has served as a very critical region as both support and resistance areas in the recent past.
The top of this fine range can be thought of as a foam area. The real consolidation area is in the lower layer.
Currently, both the gold pocket zone as the fib level and a descending trend from the 69K level, both the 200-day simple moving average and this thin channel range I mentioned provide a support to the price.
Considering that we are in a falling channel structure divided into layers, we can see that BTC has been priced in a thin range that has served as a very critical region as both support and resistance areas in the recent past.
The top of this fine range can be thought of as a foam area. The real consolidation area is in the lower layer.
Currently, both the gold pocket zone as the fib level and a descending trend from the 69K level, both the 200-day simple moving average and this thin channel range I mentioned provide a support to the price.
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