Bitcoin Approaching Upper Channel Resistance
2024-11-14

hello guys.

Ascending Channel: Bitcoin is trading within a well-defined ascending channel, with support and resistance levels marked by parallel lines.

 Upper Resistance Zone: The price is nearing the upper boundary of the channel around $95,784, which may act as strong resistance. 

Bullish Momentum: The trend is bullish as Bitcoin has consistently followed the channel upwards, respecting both support and resistance levels.

 Potential Pullback: If Bitcoin faces resistance at the upper channel, a pullback towards the midline or lower boundary is possible. 

Target: If the price breaks above the upper boundary, Bitcoin could see a further bullish extension around $95,784. However, rejection at this level could signal a temporary correction.