$BITCOIN - Locally Bullish, Globally Bearish

Exit from a such prolonged channel can never happen without resistance re-test. The market needs a retest to determine a clear trend, otherwise the price will stomp in a "weak" corridor. Thus, I expect a retest of the channel's resistance. Now the global priority is downward.

However, the local picture looks quite clear, so you can enter LONG position with the entry zone below the $7500 level. Target for this movement is the region up to $7800. If the price breaks through 7800 and fixes higher, you should gain a new position near $7800 and expect a growth to $10000 in mid-term. Locally, after the breakout of $7800 level, the price will go to $8500.

BUT, If the price doesn't break through $7800 and remains lower, you can open a SHORT position with targets around $7400 - $7300. And let me remind you, the local priority is upward with targets around 7800. Global priority is downward, below $7800.