Bitcoin Analysis 2/27/22 (Descending Channel Retest)

BTCUSDT Perpetual Contract BYBIT:BTCUSDT

NeutronMan

Bitcoin retested the support of this descending channel and it could be on it’s way to approach the price target around $41,500. The price target lines up with the . 618 retracement as well as the 50 EMA on the 1D chart. The VPVR is showing strong support at the current price. There’s not much trading volume resistance from here until 41.5k.

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