I'll be honest- I don't think this is what is going to happen, but just presenting a possibility.
BTC is in a potential ascending/rising channel, of which it is currently testing the mid-point of that channel.
On previous touches of the midpoint it has seen bounces or rejections. We could potentially see BTC bounce off this midpoint as support. It would need to close above it on the Weekly timeframe for that to happen.
If it does fall below, it should hold the 200 EMA.
Outer-limit of this channel sits at around 12-14k.
Again, not my predicion.
I expect to see 20k in the next couple of weeks.
I would imagine the buying pressure at that point would prevent it going lower, and it would not stay at that price for long.
BTC is in a potential ascending/rising channel, of which it is currently testing the mid-point of that channel.
On previous touches of the midpoint it has seen bounces or rejections. We could potentially see BTC bounce off this midpoint as support. It would need to close above it on the Weekly timeframe for that to happen.
If it does fall below, it should hold the 200 EMA.
Outer-limit of this channel sits at around 12-14k.
Again, not my predicion.
I expect to see 20k in the next couple of weeks.
I would imagine the buying pressure at that point would prevent it going lower, and it would not stay at that price for long.