- BTC should hold on to $6,600 for now.
- Top capped around $6,900 in the channel.
Bitcoin the poster of boy of cryptocurrencies and the largest crypto with market capitalisation, has got itself beautifully trapped in a rising channel that should take prices higher in slow and steady fashion.
BTC/USD is flat on day at $6,691 and trading in about 2 percent range for the day. On the hourly chart, BTC has got itself shackled in a rising parallel channel that would cap any further downside for the largest crypto beyond $6,600.
On the upside, $6,900 is the cap for next 2 days, unless there comes any fundamental trigger that should take the crypto out of this parallel channel.
BTC/USD hourly chart:
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