bitcoin price in bullish channel

Bitcoin Price in Bullish Channel: A Strong Move is Coming

Past long weekend avoided the traditional price drop and put Bitcoin Price in Bullish Channel. Seems like Bulls have taken over. What coming week holds for us? Continue reading to find out.

Over the past few days, we have not seen strong moves on the bitcoin chart. We are now seeing a decrease in volatility, which is a signal that the price is gaining strength and a strong exit is coming with a high probability of upside.

Bitcoin Price in Bullish Channel
Bitcoin Chart by Tradingview.com

You can clearly see on the chart that the price has tried several times to move above the $35,290 level, but it has failed to close above it and continue to move upwards. The price is now starting to move up to this level and locally each low is moving higher and higher, which is a good signal for the continuation of the trend. The best buying opportunity would be to break and retest this level as support with the targets mentioned above.

Bitcoin Price in Bullish Channel: Wedge Pattern

bitcoin
Bitcoin Chart by Tradingview.com

A big decisive moment is here as Bitcoin is also making a wedge pattern. Here is a near term wedge for bitcoin. Price is getting close to the apex so we should hope bitcoin price in bullish channel expecting a large move soon.  We need to see Bitcoin hold $32,700 and push above $36,600 for validation of the Spring and Test.

P.S: Crypto Market is prone to high risk, DYOR.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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