BTC/USD: Bitcoin Testing Key Channel’s Resistance – End of Consolidation Near?

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BTC/USD: Bitcoin Testing Key Channel’s Resistance – End of Consolidation Near?

is now testing the 6-month channel’s T/L resistance confluence with the 78.6% Fib of the move down from the ATH to the August low.

A break above the channel will signal the end of a half-year consolidation from the ATH to the August low hence opening new all-time highs.

From an R/R perspective, being short here against resistance makes sense because the channel might hold the price for much longer.data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

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#BTCUSD #Bitcoin #Testing #Key #Channels #Resistance #Consolidation

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