Bitcoin (BTC) Price Analysis: Correction or Continuation Next?

Bitcoin is testing the bottom of its descending channel seen on the 4-hour time frame and looks due for a bounce. However, this might merely spur a correction to the area of interest that lines up with the channel top around $6,200.

Applying the Fibonacci retracement tool shows that the 61.8% level is closest to this resistance, which is also near the dynamic resistance at the moving averages. The 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to the...

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