$BTC — Channel Breakout Rejected ❌
Bitcoin tried to break out of its long-term downtrend channel today. However, the first attempt was immediately rejected.
At the same time, most #altcoins suffered a smaller pullback.
From my perspective, this isn't surprising. Bitcoin has been trading in this channel for more than two months, so it would have been a big surprise if it broke out at the first attempt.
Nevertheless, the momentum remains bullish. 🚀
We had a perfect breakout of the inverse head and shoulders driven by increasing volume—exactly what you want to see.
So just give it some time before we knock on that door again.
