If we break the channel upward, the next stop will be at 6.8k FIB resistance and then at the 7.2k FIB which may be coupled with the red resistance line from the big triangle we are since December.
If 7200$ is broken it will may end the downtrend that we face since the beginning of the year but we are not here yet!
If we don't break the current resistance, BTC will go back to 6.4k support.
IMO, i don't think that BTC will break 6.6k today but i would love to be wrong
If 7200$ is broken it will may end the downtrend that we face since the beginning of the year but we are not here yet!
If we don't break the current resistance, BTC will go back to 6.4k support.
IMO, i don't think that BTC will break 6.6k today but i would love to be wrong
It will take alot to break this declining trend from past months but if it breaks then I look for confirmation of the break and a more certain rise from that point. The market likes to fake a breakout before then coming back in and resuming, maybe traders like to short and see it as a high risk reward scenario to do so.
The March 2017 trend I have literally drawn and left there since about last summer, maybe Autumn but not interfered this year because I figure its most accurate not to retrospect a view. The way I drew that at that point is now overhead, maybe over the top of the June peak price
While these technical analysis are always nice to see, I wonder what the real benefit is by doing this. It is not a way to predict the market, because as the OP has stated in his post, we will or go down to +/- 7k or go up again depending on the market.
The point is there is no certainties but we can at least measure the high tide mark to the negative and positive trends and avoid some losses from predictable waves in the market
it has tendency to break the support 
because rel life activities in the last couple days