Bitcoin is still inside the downtrend channel.



8/20/20220 min read

Hello, dear TradingView members.

This is a Bitcoin idea.

Bitcoin is falling back down to the 20K channel.

There are a few support levels on the way down. Two are static, and one is the lower band of our downtrend channel.

There's also one resistance level on the way up, which is static, and another one is the upper band of our channel, which is a long shot for now.

We are now sitting on a solid support zone. That's why we might experience a pullback for now.

RSI is near the oversold area, so the price has room to go up.

Now let's see your ideas. Let's have a discussion.

Let me know if you guys have any questions;

I will be more than happy to help.

Good luck, and thank you.