After many weeks of downward and sideways movement bitcoin is finally breaking out to the upside.
Bitcoin meets resistance
The third green candle in a row has now propelled bitcoin past its downward trend line which has been in force since 13 July. A retest earlier today was successfully made and now bitcoin is attempting to deal with the next resistance at around $27,130.
The upward movement has meant that bitcoin has remained inside its long term ascending channel. If it is able to break this current resistance a move to the top of the channel could be on the cards.
A negative scenario
However, a potential head and shoulders pattern may be lying in wait, with the left shoulder formed in mid-May at $31,000, and the head formed in mid-July at just under $32,000. With the neckline at $24,800, a measured move to the downside could take bitcoin all the way back down to $17,800.
This would be quite a negative route for bitcoin to follow, but the long, upward sloping channel that bitcoi
We współpracy z: https://cryptodaily.co.uk/2023/09/bitcoin-and-crypto-break-out-but-meet-resistance
