BTC at descending channel resistance

We lost the ascending support we had since last October and we see it has transitioned to a descending channel and well confirmed with 6 touches back and forth and we are about to reach the top of channel and likely to pull back, bottom of channel is in the 54K range. RSI also signals its pretty well exhausted on the daily candles.

We could break out here and regain the ascending channel, if you see top of descnding channel broken it opens up the possibility but right now what seems the most likely is we maintain this channel and we see a pretty significant drop on its way starting in the very near future. This also aligns with what we saw in the BTC dominance charts that now infers BTC Dominance will jump, which often happens in market pullsbacks where BTC pulls back hard and everything else pulls back even harder.

Be vigilant if you are trading any crypto right now, make sure you have stop loss and trailing stop losses set!