Good morning everyone!

Bitcoin #BTC

On the daily timeframe, it is in a descending channel. Also, on the daily timeframe, the AiE pattern has partially been fulfilled. Yesterday, it tested the neckline breakout level and couldn't hold above, but this morning it finally broke above 112500 and has now temporarily exited the descending channel. At the moment, it is reacting to the EMA200 on the hourly timeframe and EMA50 on the 4-hour timeframe. If it holds above 112500, I will consider entering a Long position with the aim of closing the gap on CME (marked with a rectangle).

If it does not hold above 112500, the probability of moving towards the level around 108000 significantly increases...

Wishing everyone a great day!