This trend is nothing new to those of you who trade BTC, but for those who don't, BTC is showing a "new" upward parallel channel within the current larger channel. The newer, thinner channel began at the end of Feb with the bounce at 45k and the channel trend held again slightly above 50k. These channels allow for quite a bit of support if it were to trend back downward, which doesn't seem likely.
If the channel continues, when do YOU think we'll see 70k?! Will the current price action bounce off of the channel bottom, or will it turn upwards and potentially extend the timeframe to hit 70k? With a small downward bounce off of the channel bottom and a strong push at the beginning of April, could it hit 70k near the middle of the month?
What are your thoughts?
As always, comments and ideas are welcome!
This information is not trading advice, only my personal opinion on potential market movements, and is for educational purposes only.
If the channel continues, when do YOU think we'll see 70k?! Will the current price action bounce off of the channel bottom, or will it turn upwards and potentially extend the timeframe to hit 70k? With a small downward bounce off of the channel bottom and a strong push at the beginning of April, could it hit 70k near the middle of the month?
What are your thoughts?
As always, comments and ideas are welcome!
This information is not trading advice, only my personal opinion on potential market movements, and is for educational purposes only.