{"id":11827,"date":"2024-10-17T09:12:33","date_gmt":"2024-10-17T09:12:33","guid":{"rendered":"https:\/\/www.forexanalytix.com\/blog\/?p=11827"},"modified":"2024-10-17T09:12:33","modified_gmt":"2024-10-17T09:12:33","slug":"chart-of-the-day-oct-17th-2024","status":"publish","type":"post","link":"https:\/\/www.forexanalytix.com\/blog\/chart-of-the-day-oct-17th-2024\/","title":{"rendered":"EDGE Chart of the Day – Bitcoin (October 17th, 2024)"},"content":{"rendered":"

Bitcoin testing key channel\u2019s resistance. <\/h2>
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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.
\nA 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.<\/p>\n

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Bitcoin testing key channel’s resistance<\/p><\/div>\n

Our EDGE “Chart of the Day”<\/a> feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, click here to learn more<\/a>. Trade our money, take 75% of the gains and none of the risk.<\/p>\n

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Steve Voulgaridis<\/p>\n<\/div><\/section><\/p>\n