Bitcoin: Monthly Gaussian Channel Blocks Downtrend
Trader Tardigrade reports that Bitcoin's monthly Gaussian Channel continues stepping in to keep the asset out of a downtrend on the monthly timeframe.
SourceAnalysis
Bitcoin holds above key monthly structure as the Gaussian Channel steps in to block a downtrend, according to @TATrader_Alan. Price sits at $80046.37 on the 4h chart inside a bearish trend defined by EMA50 at $80975.88 and EMA200 at $81680.93. MACD prints a death cross at -122.87 while RSI at 43.84 shows neutral momentum. With price testing upper Bollinger resistance at $81645.24 and lower support at $79327.41, the structure points to exhaustion at the band edge before any test of the 50-EMA confluence zone.
Trader Tardigrade
@TATrader_AlanTechnical chartist and crypto content creator focused on Bitcoin and altcoin pattern analysis.