BTC: make or break

14 במרץ 2021

Ascending channel

• Textbook: bullish continuation
  
• RSI: remains bullish
  
• VWMA + SMA = confirms uptrend
  
• Bearish breakout of channel ➡ needs additional confirmation
  
• Target ≈ 66/68k
  
• Key support level ≈ 52k (0.618 fib level)
  
  
• Possible bullish scenario: continuation of upward trend towards target area
  
• Possible bearish scenario: breakout of channel (+ confirmation) ➡ we might see a double top pattern before a reversal in trend/correction
  

Keep in mind: we are in price discovery ➡ many unknowns

Not financial advise.

I am not an expert, just my opinion.

Good luck all!