After last week’s high, the BTC/USD pair has had a correction. More vivid support and resistance zones have emerged.
As a result, this is the situation for the moment:
What are the price prospects?
Considering only the technical analysis, if the resistance zone remains at $1,810 - $1,840, then a new trading channel will probably emerge in between $1,640 - $1,810.
Otherwise, if buyers turn out stronger than sellers and pass the $1,810 - $1,840 resistance zone, new highs for BTC/USD are highly probable. Buys after the resistance zone retest with small risk will remain the main trend for this week.
A flat can be almost entirely ruled out due to volatility, but the chances still remain. Short positions on this market are very risky, even if you trade channels. Pay attention to the uptrend. With such strong movements and market volatility, good results are really doubtful.