Crypto Daily – Bitcoin (BTC) fell out of its ascending channel on Monday as it followed its latest correction. However, this dip could be over as the $BTC price begins to rise again. Next upside target is $70,000.
The pairing might have taken a dip in favour of USD over the last couple of days, but a resumption of Bitcoin’s inexorable rise looks to be taking place again.
$BTC falls out of its ascending channel
Source: TradingView
The short-term time frame chart above, shows that the $BTC price did drop through the bottom of the ascending channel, turning what was support at $64,400 into resistance.
However, in the period of time that the king of the cryptocurrencies was reversing its upside movement, all the short time frame Stochastic RSIs were able to reset, with indicators ready to move up again, signalling renewed upwards price momentum.
Therefore it might be expected that $BTC battle back through the resistance, and back into the…
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