Bitcoin Makes Higher Low But Still Battles 7,600 Level

in #steemleo5 years ago

It's always good to see price make a higher low, which is what bitcoin did over the past few days, but it is battling the 7,600 area that has been a pivot point in recent months.

Mid-Channel Battle

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Price is still in the descending channel which means overall price action is still bearish. The 7,600 level is about in the middle of that channel now and if price can push higher it will likely see headwinds at 8,400.

It would still be a welcome site though as this would keep this last little low intact and give us a higher high from last week's bounce.

On the downside, price can push toward the 6k level and still be within the descending channel.

Things have been slow the past week or two but you know how crypto goes, there will be a huge move on a random day sometime soon. Up or down is the question!

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