Bitcoin's bullish descending channel pattern
Bitcoin has been trading on a descending channel pattern and might be close to a breakout. At this stage, BTC hits the resistance multiple times with increasing strength of price action (higher lows into resistance over the last month).
Currently, the support/resistance levels are:
63k -
64K
$67 - 68k
$71 -
73K (corresponding to the all time high)
August might have some market catalysts, from unemployment rate, core inflation numbers, retail sales and FOMC minutes. Depending on these numbers and the prospects for market liquidity, Bitcoin might break the $67 - 68k resistance level.
Next resistance level: $71 - 73k.
Currently, the support/resistance levels are:
63k -
64K$67 - 68k
$71 -
73K (corresponding to the all time high)August might have some market catalysts, from unemployment rate, core inflation numbers, retail sales and FOMC minutes. Depending on these numbers and the prospects for market liquidity, Bitcoin might break the $67 - 68k resistance level.
Next resistance level: $71 - 73k.
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