EDGE Chart of the Day – Bitcoin (October 17th, 2024)

Bitcoin is now testing the 6 month channel’s T/L resistance confluencing with the 78.6% Fib of the move down from the ATH to the August low.
A break above the channel will signal the end of a half year consolidation from the ATH to the August low hence opening new all-time highs. From a R/R perspective, being short here against resistance makes sense because the channel might hold price for much longer.

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