Blue lines- bearish channel
Red line- support
Bitcoin continues to move sideways for more than 4 months with no real direction. Price remains inside the medium-term bearish channel since its all time highs. The $18,000 price level has proven to be a very important support level. It has been tested several times but so far bulls have managed to defend it. Key price levels to watch are at $18,000-$17,500 and at $21,000. Volatility will rise if any of the two levels is broken. Price will either go towards $12,000 or towards $30,000. This sideways movement is expected to end soon.
