At this point we know it well. The descending channel that bitcoin has been in since December 2017.
It has trended us town the past three months - has its time come???
Bitcoin Battles to Breakout
As today's daily candle closes, we find bitcoin sitting right at the top line of the descending channel. This occurs just days after it failed to breach it.
The good news is we only saw a small pullback before testing it again now. In past cases we had already made quite the move of the lows of the channel.
Maybe this time BTC has a little more pep to bust through. We shall see in the next couple days?
We need to see BTC above 11,200 and then ideally get to 12k. That would be the price action needed to kiss that descending channel goodbye finally!
I explain that and more in the video below:
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Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.