$BTC
Hello esteemed traders.
Bitcoin is currently consolidating within a descending channel. It is deviating from the channel's resistance line, indicating selling pressure at higher levels.
From below, the 21-day moving average serves as dynamic support just below the current price movement.
A decisive breakout above the channel's resistance, accompanied by strong volume, could signal a potential upward reversal and initiate an upward movement.
Conversely, a breakdown below the 21-day moving average could lead to further declines, possibly intensifying the downward trend within the channel.
Watch for price movement around these key levels.
It is advisable to consult with your advisor before making trading decisions.
Good luck friends.