Hello everyone.
Here's one scenario for Bitcoin for the next months.
For the past 14 months, ever since Bitcoin established the high in May 2021, I believe it has traded inside multiple downtrending channels.
These channels act as decisive levels of support and resistance for the price action.
We see price bouncing either up or down multiple times from these levels.
Now an imaginary line on one chart does not guarantee by any means the performance for the future,
But, I can't stop myself from noticing how useful and impactful it has been to follow the behaviour of price around these levels.
Especially during big moments like breakdowns, breakouts, news highs or lows.
The next levels to watch are 23k and then 25k for the next weeks.
These are my Targets I and II for the coming weeks.
Once reached, I expect a pullback to occur down again too 18k.
For now, enjoy the ride this Summer.
If you found the the idea interesting let me know what you think below!
Here's one scenario for Bitcoin for the next months.
For the past 14 months, ever since Bitcoin established the high in May 2021, I believe it has traded inside multiple downtrending channels.
These channels act as decisive levels of support and resistance for the price action.
We see price bouncing either up or down multiple times from these levels.
Now an imaginary line on one chart does not guarantee by any means the performance for the future,
But, I can't stop myself from noticing how useful and impactful it has been to follow the behaviour of price around these levels.
Especially during big moments like breakdowns, breakouts, news highs or lows.
The next levels to watch are 23k and then 25k for the next weeks.
These are my Targets I and II for the coming weeks.
Once reached, I expect a pullback to occur down again too 18k.
For now, enjoy the ride this Summer.
If you found the the idea interesting let me know what you think below!
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King