BTC DESCENDING CHANNEL - 19K or NEW ATH
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This analysis has been listed on my published post since june and its currently in play. The chart shows a vivid price movement of btc since the onset of the last ath and presently we are close to the lower high of the channel where btc could possibly get rejected or breakout. Price is at a strong resistance zone (45.5k), failure to break could take price down to 42.5K and a reversal to the lower high of the channel is highly expected. The pattern implies a price trend to 50K - 51K then to a new ATH or back down to 19k which is a essential demand zone for btc to retest. All vital info have been provided on chart, take your time to delve.
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Your likes and opinions would be much appreciated, you can follow up for more helpful contents and do follow my comment sections too for quick updates.
Trade attivo
Btc continues to follow the trajectory with the support as the dynamic trendline and 200 EMA. 50k target is highly expected but the critical level where a breakout or correction could occur is yet to come and this would really decide the fate of Cryptocurrency in the long term.Trade chiuso: obiettivo raggiunto
Target was reached on the 23rd of august with huge consolidation which is indecisive on the next price action.
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