3 channels to explain the bitcoin trend
This chart shows three channels that seem to be effective in the current detection of bitcoin trends. Channel 1 is a long-term channel that explains the bitcoin trend since 2017 This channel describes bitcoin tops and bottoms since 2017 and can be considered valid.
Given that the top of bitcoin was formed on it in 2021, the bitcoin bottom will also be created, if it is formed, on the bottom trend line.
Channels 2 and 3 are the medium-term bitcoin channels that Bitcoin has been in for the past year. Channel 2 is an ascending channel and Channel 3 is a descending channel.
One of these channels will lose its credibility within the next three months. The loss of the Channel 2 support line will mean the completion of the double-top pattern and a further drop in price.
BTCUSDBTCUSDBYBIT:BTCUSD
BTCUSDT
Given that the top of bitcoin was formed on it in 2021, the bitcoin bottom will also be created, if it is formed, on the bottom trend line.
Channels 2 and 3 are the medium-term bitcoin channels that Bitcoin has been in for the past year. Channel 2 is an ascending channel and Channel 3 is a descending channel.
One of these channels will lose its credibility within the next three months. The loss of the Channel 2 support line will mean the completion of the double-top pattern and a further drop in price.
BTCUSDBTCUSDBYBIT:BTCUSDBTCUSDT
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