It’s been so far so good. We’ve successfully predicted the movement of the bitcoin rate inside the channel. Now for the tough part: what will bitcoin do now? Will in break through the down channel or will it bounce from the resistance and go to the sub-30 depth?
In fact, nobody on Earth can tell it with more or less precision. It seems however that the leading prediction of the bitcoin price will be positive in short term. Yesterday BTC has been fluctuating just under the upper channel boundary. That is generally a good sign as it allows technical indicators to ‘calm down’. It is especially true for the RSI gauge which is used by many traders.
Thus bitcoin comes to the resistance level well rested. RSI is not at the overbought levels. Now comes the hard task to penetrate the channel resistance and to anchor themself at the level 36 or somewhere around it. The border was successfully penetrated but the volumes and the dynamics is far from being solid.
We have to bet and wait for the price action. I suppose that this time will be positive for BTC and it will climb to at least 37 in the coming few days. If BTC falls back into the channel to the depth of 33700 this prediction should be considered void.
