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Another interesting chart on the 8H timeframe is the formation of a descending channel.
I already wrote in the last post on BTC what you need to see the $30,000 mark, so I want to add more thoughts.
The price of bitcoin is now at the middle line of the channel, which is currently a temporary support, now it is most important that the buyer can keep the range of $27,200-27,000 and not fail it, then the middle line of the descending channel can push bitcoin to the important resistance of $28,650 (upper part formations).
While there are still chances for a bullish scenario, it remains to wait some more time and the matter is small...
Another interesting chart on the 8H timeframe is the formation of a descending channel.
I already wrote in the last post on BTC what you need to see the $30,000 mark, so I want to add more thoughts.
The price of bitcoin is now at the middle line of the channel, which is currently a temporary support, now it is most important that the buyer can keep the range of $27,200-27,000 and not fail it, then the middle line of the descending channel can push bitcoin to the important resistance of $28,650 (upper part formations).
While there are still chances for a bullish scenario, it remains to wait some more time and the matter is small...
