BITCOIN breached the August resistance inside a bullish channel
The Descending Resistance started on August 15 is now history for Bitcoin as it breached past it today. The 1D MA200 is right above at 19520 and is posing as the biggest obstacle on the long term.
However the bullish channel has been constructed and looks strong enough to lead the price gradually higher to the upper Fibonacci extension, which as you see fit almost perfectly with the lower highs after August.
The extremely overbought RSI most likely will need the price to pull back first before the 1D MA200 breaks. But as mentioned, the bullish channel is already constructed.
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However the bullish channel has been constructed and looks strong enough to lead the price gradually higher to the upper Fibonacci extension, which as you see fit almost perfectly with the lower highs after August.
The extremely overbought RSI most likely will need the price to pull back first before the 1D MA200 breaks. But as mentioned, the bullish channel is already constructed.
Follow us, like the idea and leave a comment below!!
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