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Bitcoin: We need a Channel Break by scaredycatguide

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cryptocurrency · @scaredycatguide ·
$33.50
Bitcoin: We need a Channel Break
Lions and tigers and BEARS....oh my!  Call the current downtrend in bitcoin whatever you like; here is the bottom line...

## We are In a Descending Channel

If you look at the daily chart of Bitcoin (as I do in the below video) you can see a clear descending channel that we need to break.  

A push above 6,500 would do the trick and would also get us on the right side of a price area that has seen several pivots and rallies in the past.

Otherwise, we will continue to stair step down in what is starting to look like bear flag pattern after bear flag pattern.

I discuss it all below...

<iframe width="560" height="315" src="https://www.youtube.com/embed/88timC8Wan4" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen></iframe>

![Steemit_txtdvidr.png](https://steemitimages.com/DQmQALmjjiQfvMZNBY1AtHwNiZLf6jnD6P1yuGe4v25iHRe/Steemit_txtdvidr.png)

#### <center>Need to learn the basics about bitcoin, the blockchain and wallets?  
Free e-book: [ScaredyCatGuide to Knowing What the Heck Bitcoin Is](https://scaredycatguide.com/scaredycatguide-to-bitcoin/)

![steemittags.JPG](https://steemitimages.com/DQmWtucb9z95znZ6jWgBBFJJoth1UiskdAcbJWWWrJ5zPKX/steemittags.JPG)

![Scaredy Cat Guide Logo_FBcoversize2.jpg](https://steemitimages.com/DQmVxSVesocN4455goVSNEydGgs7sQqBrS4DGHw94qrP5sT/Scaredy%20Cat%20Guide%20Logo_FBcoversize2.jpg)

**Disclaimer: All info in this post is my opinion and for informational purposes only**</center>
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vote details (58)
@adeshvy · 
I like it
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@avinashdebnath · 
Did you really think btc break channel??
👍  
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vote details (1)
@scaredycatguide · 
I let the price action dictate that for me.  I will wait for a break or wait for it to leg down again.
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@avinashdebnath · 
Ok sir can you vote me please to Increase my  reputation
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@realestatecoach · 
I would love to see an upward movement.  I'm shocked we are still so weak.
👍  
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