BTCUSDT ⚡ Channel Pattern Spotted

9 маяHey guys!

At this very moment, we are in the middle of almost everything so you don't want to get caught on the wrong side of the trade. Better be safe than sorry. Having said that, here's my idea about what we are looking at right now.

1) There's a channel marked by green lines as shown in the chart. If you can see this, you'll notice whenever price touches the upper line it gets rejected and whenever it touches the lower band it bounces back inside the range. We can buy when price hits there and sell whenever it touches the upper resistance channel range. A deal breaker would be either a breakdown of the channel or breakout of the channel.

2) TARGETS if price keeps respecting the channel pattern, would be at the top resistance line to take profits as a buyer and viceversa as a buyer taking entry trigger a candlestick pattern on the lower band of the channel.

This idea is to spot for the long term. This asset is still in balanced mode, there hasn't been a breakout of the range yet. However, it's worth to note that there's a channel pattern playing out, right now.

Hope you find it useful and be able to take advantage of this idea.

Kina Tip of the Day: Take profits partially even when they don't seem much because in the long run they will grow in a balanced way with the rest of the portfolio.

Keep it shiny ⭐
Kina, The Girly Trader

17 мая

Комментарий

Oh boy, the re-test to the support trendline never happened. Price continued upwards but found some resistance against the ichimoku cloud so for now it's headed to the upper band of the channel where it will get most likely rejected.

21 мая

Комментарий

Crypto Father is making a moveeee, well there's only one thing I dislike from this. We have a volume divergence which implies that either this breakout is a bull trap or it's a bait for whales and trigger the bull run finally

13 июн.

Сделка закрыта вручную

I think the channel pattern idea is over, we are now looking at a probable IH&S pattern.

15 июл.

Комментарий

My idea held up nicely, and we can see BTC came down into the BUY icon I've marked before. Now what's left is to confirm this bullish move. We have a strong resistance coming at 72k–74k, so I'd take profits there in that zone. Note: The 56.8k zone proved to act as support for the third time, so we can expect the price to re-test resistance again. I still can't trust that the resistance will be broken without strong liquidity absorption. 

22 июл.

Комментарий

After the liquidity run, BTC is still consolidating horizontally between 56.890 and 72k, so I'll tp safely at the resistance zone unless, of course, there's a breakout set up.