ðĨ Bitcoin Formed A Parallel Channel: Long-Term Bull Move Ahead?
In this analysis I want to take a look at a potential parallel channel pattern that BTC has formed on the weekly chart. For now, the top of the channel is the long-target.
Keep in mind that this pattern can span out over several months, so it will be difficult to predict what exactly will happen. Nevertheless, I think that this pattern could play out if inflation has indeed peaked.
Be aware that BTC is still trading in some form of bear flag and we could potentially retest the channel's support.
Keep in mind that this pattern can span out over several months, so it will be difficult to predict what exactly will happen. Nevertheless, I think that this pattern could play out if inflation has indeed peaked.
Be aware that BTC is still trading in some form of bear flag and we could potentially retest the channel's support.
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