Hi friends hope you are well, and welcome to the new update on Bitcoin.
Breaking down the channel:
On an hourly time frame, Bitcoin has broken down the support of the channel and also invalidated the Cup & Handle pattern by breaking down the handle of the Cup. But we still have strong support at $19500.
Resistance levels:
On a weekly time frame, Bitcoin has found a lot of resistance levels and BTC needs to break them out to start the next bull run. Without breaking out these resistance levels Bitcoin is not going anywhere.
Previous support of the wedge is now again working as resistance and the key resistance will be at $28600.
20k support:
On a daily time frame, we are having second closing above 20k support, but the real support is at $19.5k because when we had the previous bull run of 2017 then Bitcoin found resistance
at $19500 and it has flipped into support.
For a detailed analysis, you can watch the video.
▶️ 3Speak