BTC Looking weak at this point : More downtrend possibility
BTC hit the upper resistance of its ascending channel,
This is a key level for btc
70% probability scenario is that it will comeback to the middle of the channel at around 45k and continue playing sideways,
30% scenario is a breakout to test the next fibo level at around 57k
The RSI on the other hand did not hit the all time high either, So it has a room to grow.
A breakout with a retest of the upper channel line as support would be the best scenario for a long entry,
DYOR
NFA
This is a key level for btc
70% probability scenario is that it will comeback to the middle of the channel at around 45k and continue playing sideways,
30% scenario is a breakout to test the next fibo level at around 57k
The RSI on the other hand did not hit the all time high either, So it has a room to grow.
A breakout with a retest of the upper channel line as support would be the best scenario for a long entry,
DYOR
NFA