Technical analysis by Babsphoenix about Symbol BTC: Buy recommendation (6/1/2023)

BTCUSDT:Trying to Reclaim an important ascending channel Bitcoin is facing a cluster of resistance to its attempt at reclaiming the 20 years old ascending Channel it lost on the 21st September 2022. 50WMA, 200WMA, horizontal and diagonal resistance are standing in the way. A major source of optimism, in spite of the weekly death cross, is that it has turned a 15 months old bearish diagonal resistance into support. While a break to the upside looks imminent, the pair might spend an appreciable amount of time in the wedge upper part of the rectangular accumulation zone.Comment:Comment:Comment:Comment: