BTC – 08 March

A quick look at what BTC is doing

In the short-term BTC is channel bound within an ascending channel. It seems likely that this state of affairs will not continue for too much longer. I say that based on the length of similar channels in the recent past. I expect a sudden rise or dip before BTC forms a new channel with the same East-North-East price movement.

The chart below looks back about three weeks and shows how this East-North-East price movement has been prevalent in all major recent channels. It also shows how long the channel bound price movements remain intact

About the author: Bit Brain

A walking crypto encyclopedia. Honest, Realistic, Opinionated. Futurist, Autodidact, Polymath.