BTC - Parallel channel still very key

15 thg 3, 2023

After CPI yesterday we pointed out how we were at the top of our parallel channel. Although we broke 25.2k and everyone was extremely bullish, we were warning people to watch the top of the channel as well as to wait for a daily candle close above 25.2k to confirm the breakout. BTC's price was rejected perfectly from the top of our channel and is currently fighting with the heartline of our channel. We also got rejected at overbought conditions on our 4H RSI. This channel is very important to watch over the next few weeks so here is a chart you can watch play out with our channel drawn.