$BTC

Price has just tapped the upper rail of the rising parallel channel and is reacting from that area.

This could easily turn into a classic weekend bull trap if price fails to hold above the level. Until the market can break above the channel and show acceptance there, the structure doesn’t really change.

For now, I’m still sticking with the original downside target around — or slightly below — the 9-year trend rail.

BTCUSDT

Perp

79,015.2

+2.08%