Bounce off ascending channel.

29 nov 2021

BTC has finally hit the bottom of the ascending channel (drawn based on logarithmic y axis). After hovering along the channel line it has had a strong bounce upwards. This is a bullish signal; however for a stronger signal, one should wait for a higher higher at above 60k to fully confirm the reversal of the trend. After it fully bounces, I expect BTC to complete wave 5 on the daily timeframe pushing for a new all time high. Current target is 70k