Looking at the 4 hour chart, we appear to be in a up channel which may take us back to the all time highs in Bitcoin if it holds.
We can already see that there are multiple touches at the top (resistance) and bottom (support) of the channel. Giving us a clear support and resistance zone within the channel.
We should continue to monitor this channel over the next few weeks to see how Bitcoin behaves. If it holds we will retest the ATH in Bitcoin at $65,000. If we break down out of the channel I think we will retest the $47,000 support zone
We can already see that there are multiple touches at the top (resistance) and bottom (support) of the channel. Giving us a clear support and resistance zone within the channel.
We should continue to monitor this channel over the next few weeks to see how Bitcoin behaves. If it holds we will retest the ATH in Bitcoin at $65,000. If we break down out of the channel I think we will retest the $47,000 support zone