Bitcoin is now $27,980 Daily frame.

Analysis on price channels and classic ones with the integration of the RSI indicator.

Now Bitcoin is inside a descending channel. From the last price it reached at $31,800, the price reached the lower descending channel limit of 24800, and it rebounded and is now below the upper channel limit. By penetrating this channel, I expect an increase between 9% and 10%.

Also, a double bottom reversal pattern has formed. The pattern is activated by breaching the neckline at the price of $28,100, which corresponds to the upper border of the descending channel, and the model’s target is 10%.

At a price of 31 thousand.

The RSI indicator on the daily frame is positive and supports the rise by forming higher bottoms and higher tops.

By combining this analysis with price angle analysis

Bitcoin targets between $30,200 and $31,000 within a month, and we must update and raise caution when reaching this price range that has been determined.

$BTC