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Bitcoin may react to the top line of the downtrend channel

Bitcoin may react to the top line of the downtrend channel

Bitcoin may react to the top line of the downtrend channel

Bitcoin may react to the top line of the downtrend channel

Bitcoin / U.S. dollar BITSTAMP:BTCUSD
MJShahsavar


Bitcoin may react to the top line of the downtrend channel

A downtrend channel can be seen in the Bitcoin chart. This channel is drawn in the chart on the left. Bitcoin is approaching the upside trendline of the channel. There is a possibility that BTC respects this trendline. If Bitcoin respects this trendline, it is likely that Bitcoin will continue to downtrend.
It should also be noted that sellers are still more powerful than buyers, and the RSI is approaching the overbought zone.

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