Bitcoin is bouncing off support and moving towards resistance.
BTC/USDT COINBASE:BTCUSDT
Hi Guys
The chart shows BTC vs USDT on the 8 hourly on Coinbase.
Bitcoin is bouncing off the June 2021 ATL (Green Horizontal Line), which is seemingly providing a level of support so far.
Bitcoin is about to re-enter a downward parallel channel (Red Lines) in which you can see has formed strong price points ( support/resistance ) with the white highlights.
Breaking this channel with strong volume would be a bullish move.
Right now we are getting a lot of side action but it will have to end at some point.
What are your thoughts guys, bullish or bearish?
Like if you agree.
Many thanks,
Casey
Disclaimer: Not professional Advice
