Bitcoin’s six-year range inside a rising channel has drawn the attention of a curious but optimistic analyst. Previewing the price chart shows that the coin has been in range over the years, capturing all of its volatility. Despite occasional dumps and pumps, the structure is yet to be broken. By the time the screenshot was shared on July 21, Bitcoin was trading in the lower part of the rising channel, skirting the support trend line, an indicator that prices have been generally lower in recent months. The rejection of lower lows and bounce from the support trend line, the analyst says, is bullish and squarely puts back bulls in contention. Bitcoin To $175,000? According to the trader’s assessment, a breakout above the upper resistance level at around $32,000 could potentially trigger a new bull run that may see the world’s most valuable cryptocurrency retest highs of the rising channel at $175,000, a level that upbeat HODLers can mark as a feasible target. Related Reading: Maker (MKR) Surges 26% In A Week As Token Buyback Program Goes Live Still, con ..
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