Cabana Capitals Blog Technical Analysis BTCUSD approaching resistance of a Channel Down

BTCUSD approaching resistance of a Channel Down

BTCUSD approaching resistance of a Channel Down post thumbnail image

Emerging Channel Down detected on BTCUSD – the pattern is an emerging one and has not yet broken through support, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 54370.81 and it is expected to move to 55095.0768.

Supported by Upward sloping Moving Average

Target: 55095.0768 Entry: 54370.81 Stop: 52552.05

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