To begin with, a rising channel is a technical chart pattern that is formed when the price of an asset is moving between two parallel lines, with the lower line acting as support and the upper line acting as resistance. This pattern indicates that the asset is in an uptrend and that buyers are willing to pay higher prices for it.
Looking at the BTC/USD chart, we can see that the price has been moving within a rising channel since early 2021. The lower trendline of the channel has been acting as support, while the upper trendline has been acting as resistance. The chart also shows that the price has been making higher highs and higher lows, which is another indication of an uptrend.
Looking at the BTC/USD chart, we can see that the price has been moving within a rising channel since early 2021. The lower trendline of the channel has been acting as support, while the upper trendline has been acting as resistance. The chart also shows that the price has been making higher highs and higher lows, which is another indication of an uptrend.