BTC is back into the channel that we were in during the weekend.
The top of the channel is now a key resistance that we need to break if we want to see prices back above 50k.
If the resistance holds, look for BTC to move to the mid then low of the channel.
Funny enough, I was expecting people to short 50k today, but we had lots of long opening around 50.3k this morning, I guess people were FOMOing in.
So for now, expect lower, if we break back above the high of the channel and flip it to support, then BTC has good chances of getting back above 50k
Any questions?
Good luck traders
Remember not to break your rules
Habib
The top of the channel is now a key resistance that we need to break if we want to see prices back above 50k.
If the resistance holds, look for BTC to move to the mid then low of the channel.
Funny enough, I was expecting people to short 50k today, but we had lots of long opening around 50.3k this morning, I guess people were FOMOing in.
So for now, expect lower, if we break back above the high of the channel and flip it to support, then BTC has good chances of getting back above 50k
Any questions?
Good luck traders
Remember not to break your rules
Habib