BTC is showing strength in this channel. You'll see the bottom of the channel trends from top and bottom level support over the course of previous cycles. This looks like a really good area for BTC to consolidate before it's next run as it's found strength around this level. May have a dip below, but I'd venture to guess the monthly candle won't close below this range.
The MACD tend looks to be curving at the right time near the bottom which can also fall in line with this pattern.
Once we reach the end of the arrow, that's where I'm envisioning a breakout - however, I'll measure the length of that breakout as we get closer if this channel does end up being the trend it follows.
Good luck! This is simply what I'm seeing.
The MACD tend looks to be curving at the right time near the bottom which can also fall in line with this pattern.
Once we reach the end of the arrow, that's where I'm envisioning a breakout - however, I'll measure the length of that breakout as we get closer if this channel does end up being the trend it follows.
Good luck! This is simply what I'm seeing.
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