Bitcoin is trading around 113,955 within an uptrend channel forming since September 2, above the 4/8 Murray level, and above the 21 SMA and 200 EMA, which adds a bullish outlook for the coming days.
If Bitcoin sharply breaks the uptrend channel and consolidates above the key level of $115,000, we could expect it to reach the 5/8 Murray level at $117,000.
On the other hand, if BTC trades within the uptrend channel at about 114,500, it will be seen as a sell signal, with targets at 112,500 and 111,800, the bottom of the uptrend channel.
Bitcoin is expected to trade below 115,000 and above 111,000 in the coming days. This range zone will give us an opportunity to buy and sell BTC.
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