(I'm mostly publishing this idea for myself.)
The bottom channel line was drawn about a week before the price actually rebounded on it, it's just a parallel to the top line.
BTC has gotten a lot of very bullish news lately (Tesla, Fidelity ETF, etc), but is in my opinion held down by the futures expiry happening one day from now.
Coincidentally (or maybe not), the last time BTC touched the bottom channel line was on the 28th of January, one day before the January futures expiration (there are also a lot of similarities in the candles and in the volume).
The blue candles represent the same pattern that played out from the 28th of JAN to the old ATH. Of course I'm expecting variations, but if history is anything to go by BTC will probably exceed everyone's expectations and break the channel upwards.
The bottom channel line was drawn about a week before the price actually rebounded on it, it's just a parallel to the top line.
BTC has gotten a lot of very bullish news lately (Tesla, Fidelity ETF, etc), but is in my opinion held down by the futures expiry happening one day from now.
Coincidentally (or maybe not), the last time BTC touched the bottom channel line was on the 28th of January, one day before the January futures expiration (there are also a lot of similarities in the candles and in the volume).
The blue candles represent the same pattern that played out from the 28th of JAN to the old ATH. Of course I'm expecting variations, but if history is anything to go by BTC will probably exceed everyone's expectations and break the channel upwards.