BTC channel support has become resistance - tread carefully

٢٤ فبراير ٢٠٢١

Bitcoin broke down through the support of a clear upward channel. It has now bounced back up, but the support of that upward channel is now resistance. Tread carefully. I would not buy until it closes above this resistance on the 4 hour. There could be better buying opportunities below 42K if it breaks down. Now is not a time for action, it's a time to watch.