BTC 1G – Technical Target of Broken Channel 16200
Bitcoin / Tether MEXC:BTCUSDT
BTC We can use the daily chart both to see the technical target of the broken ascending channel and to understand the important price levels.
The technical target of the broken channel appears to be 16200. However, in order to reach this target, the price must close the day below 19000. I would like to point out that the reaction rise that BTC is currently making can reach 20760 at the most, and even if it can reach there, the probability of being rejected is quite high. If the price exceeds this level and closes above 21900, then everything will change and I personallyI will be. If the price holds above the daily MA-100, I think it will now target 29K.
NOTE : Some analysts call this channel a bear flag, but a bear flag’s pole will not be that short, and its flag cannot be that wide. So I argue that this channel is just a channel and it is broken down.
The main bear flag is made and broken on the weekly chart. His target is much, much lower. A full candle week close under 19300 might get us to that flag’s target. I am including this analysis and target below for those who are curious.