🔥 Bitcoin Channel Recovery

15 בפבר׳ 2021

Bitcoin has seen a rather quick dump last night, taking the whole market down with it. As seen on the chart, Bitcoin seems to be bouncing off the lower support of the channel. This trade is based on the idea that Bitcoin gets bought up quickly after every dump, like it has been doing for months now.

On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs. Do your own due diligence.

Happy trading!