Bitcoin is in an obvious rising channel.
You can see resistance at the top line, and support along the bottom.
But the heart-line is also an important area of both support and resistance. Currently BTC is situated above it (coming in right around 10300), so if that area does break, it will likely result to further downside to low 8000's - 9000ish area.
On the 2D you can see that BTC almost touched the top of the channel, and on the same 2D candle we found support on the heat-line.
- The top of the channel is right around 12000, and if that area breaks BTC is likely to rip to higher prices 13k plus...
- Likewise, if BTC falls below 9000, there will be an aggressive pull-back which will most likely set in some of the Weekly and Monthly's Higher Lows.
You can see resistance at the top line, and support along the bottom.
But the heart-line is also an important area of both support and resistance. Currently BTC is situated above it (coming in right around 10300), so if that area does break, it will likely result to further downside to low 8000's - 9000ish area.
On the 2D you can see that BTC almost touched the top of the channel, and on the same 2D candle we found support on the heat-line.
- The top of the channel is right around 12000, and if that area breaks BTC is likely to rip to higher prices 13k plus...
- Likewise, if BTC falls below 9000, there will be an aggressive pull-back which will most likely set in some of the Weekly and Monthly's Higher Lows.
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