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in bitcoin •  2 years ago  (edited)

Undoubtfully, the long-term techs and fundamentals are obviously bullish . My proprietary studies point out that we are in overwhealmingly overbought territory and the only way to avoid any major correction to the downside is that bulls manage to defend this support level .
In such case the upper line of this bullish channel is the next objective.

In the other hand if bulls fail to defend this support levels, risks are that such breakout to the downside plus any poisoning combination with the 4H and 1H 20MA might open a path for futher correction to the downside, down to the next support level.

TradingView chart:

Alberto Alvarado
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