Price came down from the top of the parallel channel to the bottom of the channel and an ascending parallel channel typically breaks down.
However, we are in a larger descending channel, which typically breaks up.
So, we expect the the price to fall but not by much before we test upper resistance. We suspect that there will be a lot of wicks here so, look for volume for confirmation!
Happy Trading :)
However, we are in a larger descending channel, which typically breaks up.
So, we expect the the price to fall but not by much before we test upper resistance. We suspect that there will be a lot of wicks here so, look for volume for confirmation!
Happy Trading :)
Smart Crypto Association [ SCA ]
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Smart Crypto Association [ SCA ]
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.