After breaking out of our falling wedge, we formed a parallel uptrend. Eventually we broke above it, and then below it.
Now we are back inside of it and testing the bottom of the channel, while also testing the top of the green box (support). If we remain above both, we should see a quick trip back into the red box.
If we break back down into the green box and below the channel, we may start moving within a range between the two purple lines here with some breaks above and below, dragging this out further before seeing our move back into or above the red box.
Break above the red box, new ATH begins to look likely, there's also potential for a double top depending on what is happening with the greater BTC market. Always keep an eye on BTC.D and BTC to stay informed.
Now we are back inside of it and testing the bottom of the channel, while also testing the top of the green box (support). If we remain above both, we should see a quick trip back into the red box.
If we break back down into the green box and below the channel, we may start moving within a range between the two purple lines here with some breaks above and below, dragging this out further before seeing our move back into or above the red box.
Break above the red box, new ATH begins to look likely, there's also potential for a double top depending on what is happening with the greater BTC market. Always keep an eye on BTC.D and BTC to stay informed.
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