Bitcoin in the bullish channel.
As the analysis on the chart.
Bitcoin is currently on the bullish channel (namely the bullish flag, bull flag).
The pattern I found in the 4h timeframe is pretty obvious, and very clear.
If it breaks the upper resistance (preferably with a confirmation), it most likely would be 85K in a few weeks.
Although since 70% or more confidence in terms of probability the bullish flag has, more likely to go up, still if it breaks the lower support, it could be a plummet (target 52.2K). Though, it also can be a false breakout, considering the current fundamental situation.
That's all.
Bitcoin is currently on the bullish channel (namely the bullish flag, bull flag).
The pattern I found in the 4h timeframe is pretty obvious, and very clear.
If it breaks the upper resistance (preferably with a confirmation), it most likely would be 85K in a few weeks.
Although since 70% or more confidence in terms of probability the bullish flag has, more likely to go up, still if it breaks the lower support, it could be a plummet (target 52.2K). Though, it also can be a false breakout, considering the current fundamental situation.
That's all.
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