Since September we've seen a nice upward movement in Bitcoin and cryptocurrencies in general.
Today is November 23 2023 and Bitcoin has been in this ascending parallel channel since October 24, when it broke above $33,000.
Since then Bitcoin has been testing the channel bottom as support and the top as resistance and we can now see the two blue trendlines and symmetrical triangle inside the channel.
In this chart, you can also see the FIB extensions of this move and the .786 lies around 34800 USD.
As of now, Bitcoin is again testing the upward blue trendline as support. I'm expecting a lot of volatility today and tomorrow with over $4 billion dollars in Bitcoin options expiring on Deribit.
Today is November 23 2023 and Bitcoin has been in this ascending parallel channel since October 24, when it broke above $33,000.
Since then Bitcoin has been testing the channel bottom as support and the top as resistance and we can now see the two blue trendlines and symmetrical triangle inside the channel.
In this chart, you can also see the FIB extensions of this move and the .786 lies around 34800 USD.
As of now, Bitcoin is again testing the upward blue trendline as support. I'm expecting a lot of volatility today and tomorrow with over $4 billion dollars in Bitcoin options expiring on Deribit.