From TradingView · · 50s
Bitcoin Descending Channel Signals
Bitcoin price shows descending channel pattern with key support and resistance levels.
In brief
Bitcoin price shows descending channel pattern with key support and resistance levels. Bitcoin price is consolidating inside a descending channel with support near 75,128 USDT and resistance at 82,374 USDT. Originally reported by TradingView.
Descending Channel Pattern
Bitcoin / Tether USDT Futures on the 1D timeframe shows a descending channel pattern following a sharp upward move.
Current Price Levels
Price is consolidating inside the channel with lower highs and lower lows at 75,783 USDT.
Key Support Level
The current price has key horizontal support near 75,128 USDT with major resistance at 82,374 USDT.
Breakout Target
A daily breakout above the channel’s upper boundary near 78,000 USDT could target 82,374 USDT for +8.7% gain.
Breakdown Risk
A confirmed daily breakdown below 75,128 USDT could invalidate the channel-breakout setup and indicate further weakness.
The short version
Bitcoin price is consolidating inside a descending channel with support near 75,128 USDT and resistance at 82,374 USDT.
