BTCUSD has following lower channel.. lots of compression forming here.. there is one hell of a fight to keep BTC above the sideways resistance which it broke a couple of days ago.. i guess one has to sit and wait while the BEARS and BULLS fight it out Rocky style.. www.youtube.com
will btc break resistance? and continue upwards within channel?
only a few days away from the main resistance line if btc can maintain this price and pass sideways through its upper resistance surely an upward movement will follow.
As BTCUSD encroaches its upper resistance there is also pressure from the lower resistance "red line" (NOT a flat bottomed triangle), so far BTC has stuck within its channels as per my previous posts.. If BTC fails to break this lower resistance line in the enxt day or so, it seems the increasingly desperate shorters are failing in pulling the price lower since...
The price stopped the 4H downwards trend yesterday (sharp Aqua line) and started going up but is compressed between that and the short-term downwards trend (Aqua line on the top) .
This downwards trend might however come at a crossroads with the medium-term Weekly uptrend (Red line for the latest one and Orange line taken from a low before).
The horizontal blue...