BTC moved above the downtrend consolidation channel earlier than I anticipated, with volumes confirming this change in trend.
The breakout occurred on the 14th of October.
Currently, there is a low chance that the price will return to the bottom of the channel at 53k-50k, in my opinion.
I guess the price will just retest the top of the channel at around 64k-62k and continue to the upside, probably to the higher part of the channel at around 73k, maybe a little more.
On the weekly chart, volatility is still low on BBWP (13th percentile), while on the daily chart, it is at the 63rd percentile, with extremes around the 85th-95th percentiles.
So, there is still momentum to continue to the upside.
The breakout occurred on the 14th of October.
Currently, there is a low chance that the price will return to the bottom of the channel at 53k-50k, in my opinion.
I guess the price will just retest the top of the channel at around 64k-62k and continue to the upside, probably to the higher part of the channel at around 73k, maybe a little more.
On the weekly chart, volatility is still low on BBWP (13th percentile), while on the daily chart, it is at the 63rd percentile, with extremes around the 85th-95th percentiles.
So, there is still momentum to continue to the upside.
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