Bitcoin might be due for another test of the long-term support as bulls have been defending this level recently.
Bitcoin rallied past the area of interest at $6,600 but could use a correction to gather more bullish momentum.
Bitcoin is still trending lower inside its descending channel on the 1-hour chart and seems to be aiming for the next downside targets.
Bitcoin is pulling back from its sharp rally but is finding support at the bottom of the ascending channel on the 1-hour chart.
Bitcoin appears to be forming an inverse head and shoulders pattern on the 1-hour time frame to signal that an uptrend is in the cards.
Bitcoin is finding resistance at the top of its falling wedge pattern visible on the daily time frame, setting its sights back on support.