- Bitcoin Insider
- Posts
- Bitcoin Trading Channel Continues
Bitcoin Trading Channel Continues
Over the past 24 hours, Bitcoin has had a small correction, however it continues to trade within the larger channel with a bullish market structure.
The current trading channel still remains to be significant, Bitcoins recent move started from when the channel low was tested. Price action is now trading in the middle of the channel where low timeframe consolidation can occur.
On the larger timeframe, we have a harmonic pattern forming, confirmation will be on rejection of the .618 Fibonacci. The technical target for this harmonic is below the $50,000 mark.
In recent news events, Trump launches new cryptocurrency venture but does not want to share any information about it.
Today’s report will also include:
Updated Technical Analysis
Other key market developments
Daily Wisdom
Bitcoin Price Analysis
Current Trading Range

We have now been following this trading channel for the past couple days, Bitcoin continues to respect it as it trades around the mid-point. It is also important to note that the channel supports the local bullish market structure,
Since the low has been established, price action has continued to place higher lows and higher highs. This indicates local strength in Bitcoin, continuation of higher lows is likely until the structure breaks bearish.
It is important to consider the current market structure on Bitcoin, it remains bullish despite trading into resistance - this increases the probabilities of higher price to come.
Bitcoin Harmonic Pattern

From a Swing Traders perspective, one important pattern to take into consideration is the current price action harmonic pattern. The C Leg is yet to be established, this can occur at slightly higher prices - $62,000 - $64,000.
Confirmation of this pattern will be a completion of Leg D, this can occur at sub $46,000. If Bitcoin consolidates and reverses around this region, it will activate the pattern for a bullish expansion towards new highs.
However, for this to occur, there will be a brutal correction in Bitcoin. This is why it is important to position yourself correctly for the coming couples weeks. Price action is approaching an infliction point where a direction will be chosen.
Bitcoin Insider will continue to monitor these time sensitive price development for the next update.
Latest Market News
Trump launches new cryptocurrency venture

Donald Trump took to a livestream on the social media platform X on Monday to announce his family’s latest venture into the world of cryptocurrency, unveiling World Liberty Financial. Although he shared few details about this bold new project, the spotlight briefly shifted to his first public remarks on a dramatic assassination attempt against him just the day before.
Rather than delving into specifics about World Liberty Financial or its operations, Trump veered off-topic, discussing artificial intelligence and other broad issues. But he couldn’t resist sharing his chilling experience from Sunday, where he described hearing gunfire while playing golf. “We heard shots ring out—probably four or five,” he recalled. “I would’ve loved to sink that last putt.” Trump credited his quick-thinking Secret Service agents, one of whom spotted the rifle barrel and fired back, along with law enforcement and a vigilant civilian who helped track down the suspect.
Meanwhile, the cryptocurrency venture, World Liberty Financial, is set to become a borrowing and lending service for trading cryptocurrencies—digital assets that operate independently of the global banking system. Many exchanges charge fees for withdrawing popular cryptocurrencies like Bitcoin, and Trump’s platform could offer a new way for users to navigate these transactions.
Trump's eldest son, Don Jr., along with other speakers, took to the stage to champion cryptocurrency as a financial alternative, claiming the current banking system is biased against conservatives. Yet, the launch of this venture in the middle of a presidential campaign has raised eyebrows, with critics warning of potential ethical conflicts.
Crypto X Segment
Most people are not prepared for what is about to come next for #Bitcoin.
— Mister Crypto (@misterrcrypto)
10:40 AM • Sep 17, 2024
Blofin in partnership with Bitcoin Insider 🤝 🤝

Highly Recommended Non - KYC Trading Platform for Bitcoin Insider Readers 📕
Trade with Next-gen Experience, Profit from Functioning Strategies, and Keep Your Crypto Safe 💸
Join Blofin now and take advantage of these inclusive deposit and trade rewards! - valid this September only 💼
Register Here: Blofin and Bitcoin Inisder: Where Wales are Made
Daily Wisdom 🧠

How did we do in this issue? |
Bitcoin Insider bouncing back to work, See you in the next one! 👊