Bitcoin Stuck in Channel but Building up for Breakout?

Hey Traders so today we are looking at Bitcoin currently trading in narrow sideways channel. But looking like strong support at 100,431 notice how on June 22 could not close below it.

Also notice on May 8 that was the same area for strong rally. So I think a good place to get back in this market would be half the daily candle on June 23 or a price of 103,150 or even 102,000.

Strong stop below support around 97,582 or lower.

So if bullish buy on pullback to channel support however if bearish wait for break below 96,000 that way you know market has confirmed move lower.

I think right now it's still showing bull market signs but only time will tell.

Good Luck & Always use Risk Management!

(Just in we are wrong in our analysis most experts recommend never to risk more than 2% of your account equity on any given trade.)


Hope This Helps Your Trading 😃

Clifford