The bitcoin rises, but it leaves no impression of strength.
That's not the fierce reversal that many had hoped for from Bitcoin when it bounced off the black, thick, uptrend trendline featured in the left-leaning logarithmic 1-day chart two days ago.
It's rather a tough battle of bitcoin on the way to the top of the green, small downlink channel. Not to mention the upper edge of the red, large downward channel. Within the next two, maximum three days, the bitcoin should have reached the top of the green downstream channel. Then it's exciting again.
Will he break it?
The top margin will hit Bitcoin at around $ 7,700 to $ 7,800. Currently we are on a reasonably good day and up 2.4% at $ 7,550. So it's not far anymore. As little as the Bitcoin presents itself on his bumpy way up, it will be hard for him to do so. Well, we are heading for the weekend and Bitcoin has been performing well recently. We'll see what happens.
Better to make less money than lose money.