As you can see on the chart yesterday bitcoin climbed out of the downward channel but today has fallen back into the downward channel. This won't be a big deal unless bitcoin falls below the goldd upward trend line on the chart.
If bitcoin was to fall below the goldd trend line this would show that this isn't a ending to this dip that has been occurring across the month. I dont think we will fall back down however as this slow moving uptrend has created a lot of support below us.
Tomorrow will be a big day as bitcoin will need to settle either above or below the downward trend channel. I still believe if it does settle above the downward channel there will be a strong push through the 12200 resistance point.
If bitcoin was to fall below the goldd trend line this would show that this isn't a ending to this dip that has been occurring across the month. I dont think we will fall back down however as this slow moving uptrend has created a lot of support below us.
Tomorrow will be a big day as bitcoin will need to settle either above or below the downward trend channel. I still believe if it does settle above the downward channel there will be a strong push through the 12200 resistance point.