Bitcoin Intraday Channel Analysis: Is $84,000 Next ? Bitcoin / TetherUSBINANCE:BTCUSDTCoinJarBitcoin price action on the intraday timeframe is currently trading within a descending channel, with both the upper and lower boundaries having been tested and rejected on multiple occasions. These repeated interactions with support and resistance provide greater definition to the channel structure and make the boundaries important levels to monitor. Price is currently approaching the lower channel support. If this region continues to hold, BTC could potentially attempt to recover toward the liquidity area above $82,000. A sustained move through this level could increase the probability of a broader intraday recovery toward the channel’s upper boundary, situated around $84,000. However, the reaction at channel support remains important. If price fails to maintain this area, the current channel structure could weaken and increase the probability of a deeper corrective move on the intraday timeframe. This would also reduce the likelihood of an immediate move toward the upper channel boundary. Overall, the descending channel continues to define the current intraday market structure. Traders can monitor the response around channel support, the $82,000 liquidity region, and the $84,000 channel resistance for further confirmation of the next directional move. Neither scenario is confirmed until price establishes a sustained move beyond the relevant levels. ---------------------------------------------------------------------------------------------- Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more: coinjar.com/uk/risk-summary The article is an opinion expressed by the author at a point in time and does not represent the views of CoinJar UK Limited or CoinJar Australia Pty Ltd. Take care to consider the date of this article and be aware that this opinion is based on circumstances at the time of publishing. No responsibility or liability is accepted for any errors of fact or omission expressed therein. Past performance is not a reliable indicator of future results. This above article is not to be read as investment, legal or tax advice and it takes no account of particular personal or market circumstances; all readers should seek independent investment advice before investing in cryptocurrencies. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets.In the UK, it's legal to buy, hold, and trade crypto, however cryptocurrency is not regulated in the UK. It's vital to understand that once your money is in the crypto ecosystem, there are no rules to protect it, unlike with regular investments. You should not expect to be protected if something goes wrong. So, if you make any crypto-related investments, you're unlikely to have recourse to the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS) if something goes wrong. ---------------------------------------------------------------------------------------------- Warning: If you invest in this product, you may lose some, or all, of the money you invest. The value of crypto-assets may rise or fall rapidly. Past performance is not indicative of future results. To learn more see our Risk Disclosures. CoinJar Europe Limited is authorised by the Central Bank of Ireland as a crypto-asset service provider (registration number C496731). ----------------------------------------------------------------------------------------------