During the last "bull run" to $65000, Bitcoin tried three times to break the resistance upwards into the next higher channel, which it failed to do. The consequence was a series of FUD, promoted by numerous promoters, twitter bots and media.
Today we are still in the lower channel. Only if we break it permanently, we might get into the the same channel that BTC used to be in, as it started its first attack on $65000. Today is the third attempt of bitcoin again to break the lower channel upwards....
I assume that the bears will once again do everything in their power to touch the lower channel of this smaller channel before a possible bullrun will finally offer them no more options to short BTC.
This idea is invalid if bulls breaks the 56-57k barrier permanently in the weekly chart.
This is just my opinion, it may be wrong. This is not an investment recommendation to buy or sell bitcoin /crypto.
Today we are still in the lower channel. Only if we break it permanently, we might get into the the same channel that BTC used to be in, as it started its first attack on $65000. Today is the third attempt of bitcoin again to break the lower channel upwards....
I assume that the bears will once again do everything in their power to touch the lower channel of this smaller channel before a possible bullrun will finally offer them no more options to short BTC.
This idea is invalid if bulls breaks the 56-57k barrier permanently in the weekly chart.
This is just my opinion, it may be wrong. This is not an investment recommendation to buy or sell bitcoin /crypto.