Potential BTC LONG setup - Ascending Channel
BTC has been ranging within an ascending channel since mid-October of 2023 and is currently testing the lower trendline of the channel. If the trendline holds, we can expect a bullish move back towards 49k.
If the trendline fails, BTC will likely retest the 41k - 40k support area.
Keep in mind that recent ETF approvals have created additional uncertainty in the market, so price action may be more unexpected than usual. Use multiple confirmations before entering any trade positions.
If the trendline fails, BTC will likely retest the 41k - 40k support area.
Keep in mind that recent ETF approvals have created additional uncertainty in the market, so price action may be more unexpected than usual. Use multiple confirmations before entering any trade positions.
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