$BTC update, raising channel up to 65k?
2024-09-16

CRYPTOCAP:BTC  has reversed after dropping to  GETTEX:52K  (falling channel in orange) and is now recovering on the 1D chart. On the 1W chart, there is also a sign of reversal and RSI too.

My forecast is that before taking off,  CRYPTOCAP:BTC  will strengthen within this rising channel (in blue). There's strong support at $47- GETTEX:48K , which should hold.

Based on the RSI and MACD curves, the uptrend should continue until it reaches the resistance at $67-$68k. Afterward, I anticipate a more severe correction, but the price should remain within the rising channel for some time.

The parabolic phase hasn't started yet, so I expect another drop to the bottom of the wedge before the next big move begins.

I will update this idea as it develops.

Most of my previous ideas have been accurate, so feel free to check them out and follow me for more forecasts.
