Can Bitcoin (BTC) Sustain Its Rally this time? Price Analysis

Bitcoin (BTC) broke out of a descending channel on Tuesday but upside progress thus far has been ￰0￱ Bitcoin sustain this rally, or will the bears bring this one back down just as has happened ever since the all-time high? $BTC higher high or back to support?) and that this is the first serious breakout in that time, it does prompt the view that the $BTC price may finally have ￰1￱ there is another leg down, and this takes the price to a lower low, it would most likely be market makers forcing one more flush out of the long positions before sending the price back ￰2￱ it stands, the breakout has occurred, it has been confirmed, and it might be expected that the price rises from ￰3￱ first big target for the bulls is a higher high which can be found at $113,500.

This would provide a confirmation of the break of trend and would put all eyes back on Bitcoin ￰4￱ said, this may not happen ￰5￱ short-term Stochastic RSI indicators are generally at, or approaching the top of their range limits and this might be why the current rally could be starting to ￰6￱ Stochastic RSI indicators in the 4-hour time frame are rolling over, as can be seen in the chart above, and so there might be some sideways and downwards price action that leads $BTC back towards the $108,300 ￰7￱ more dip according to Renko candles?