still hope for next rally but how?

in last analysis post on BTC if you followed, I mentioned 25200 is solid resistance.

also mentioned about expected support levels to retest. between 20800 to 19800.

why 19800?.... the answer is because AM 200 laying on here. so if 20800 can not

holds it make sense 19800 would be our important level to hit.

also I draw a local channel on the chart from the top to the bottom it still

has space to move around.

I mean from price action aspect price can still test the bottom line of the channel. (it could happen or couldn't, there is no solid rules).

now what we have?

I think from AM 200, for short term we will see price can bounce back upside or hover over

around the moving average for a while. and I also think blue area into the channel can retest.

so I put my baseline around 19800$ level just for now and above it has chance to go up.

below the baseline I will look for the blue area on my channel.

however loosing the channel is not good at all and if we want to see next rally soon price

need to hold up the channel.



Enjoy the market

Trade active:

if the price can hold above the channel we can expect upward pressure will resume.
however price still can drop again to retest underline of the channel anytime.

Trade active:

market seems extremely bullish. 28500 would be the next target if 25200 holds.