BTC breaks the channel: continuation upwards or imminent correction? 📉📈
In the hourly chart, we see Bitcoin within a well-defined ascending channel. The red arrow points to a possible upward breakout if it manages to overcome the channel's resistance. But be careful: the downward arrow reminds us that a breakdown below the channel's support could trigger a correction.
🔍 Level to watch for an upward move: break the channel and exceed resistances at USD 116,000–117,000.
🛡 Key support level: maintain the channel's support; if lost, it may test the zone of USD 112,000.
📌 Recommendation: trade cautiously, using tight stops. Ideally, seek confirmation of the breakout (strong candles, volume) before relying on the direction.
At this moment, BTC is around USD 125,000 according to market sources.
What do you think? 🤔 Does the rise continue or is a correction due?