🔥 Bitcoin: Re-testing Channel Before Bullish Move

٣١ أكتوبر ٢٠٢١

A couple of days ago I made an analysis on Bitcoin and the potential break out of the channel.

In the end, BTC chose the bullish side and broke up through the channel resistance. However, a bullish follow-through was missing and BTC traded downward again.

BTC is currently seeing a minor reversal after testing the channel resistance as support. An aggressive approach would be to enter the market right away. I'd be more conservative and wait for a (daily) close above 61k to confirm the reversal.

Targets for the move: 62.5k and 63.5k.

Happy trading!

٢ نوفمبر ٢٠٢١

ملاحظة

UPDATE