Bitcoin in a small channel on the 1h

Bitcoin has formed a local channel where the white rectangle represents the resistance in the local channel and the lower red->green rectangle represents the channel support.

Breaking above the resistance should lead to a test of a fib retracement back to 28.6k, from .618 or higher and up to 100% retracement or beyond (leading to a bullish continuation in the larger timeframes).



*Edit*

Of course just after creating the post, we suddenly come down to test channel support :P