BitcoinUpdated

BTCUSD consolidation- setup for a breakout

Consolidation on the hourly setting up for a big move. If we break out of this consolidating channel before the trendlines converge I'll be looking to follow the breakout direction with a short at ~7410 or long at ~7470 for a short term play.

Trade closed manually

Breakout happened to the downside, short entry of 7410 worked out as a very nice trade. Closed at 7070.

Note

snapshot

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