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1267 days ago • Posted by Charles-Henry Monchau

Bitcoin is correcting as it hit the upper boundary of its ascending channel

Bitcoin surged on those PayPal news two weeks ago, but has since then been forming some sort of consolidation on recent highs. During the latter part of this last move, it felt like people started to believe Bitcoin was great for risk off as well as risk on markets. This obviously stopped today. There is a big positive trend channel in Bitcoin, going back to March lows. Still very much intact, but note the reversal right in the upper part of the channel. - source: The Market Ear, Refinitiv 

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