Bitcoin's relief rally faces selling near the descending trend line, indicating that bears are trying to form a lower high.
#NODEBinanceTGE The 20-day exponential moving average ($105,561) is gradually tilting upwards, and the relative strength index (RSI) is just above the midpoint, indicating that the bulls have an advantage. If buyers push the price above the descending trend line, the developing downward channel pattern will be invalidated. This could catapult the price towards the neckline of the inverted head and shoulders pattern near $114,000. A breakout and close above the neckline will complete the bullish setup, which has a target of $150,492.
It is likely that sellers have other plans. They will try to lower and keep the price below the moving averages. If they succeed, the BTC/USDT pair could extend its stay within the descending triangle for some more time.
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