BTC in a descending channel?
Updated
LMK your thoughts. I know that everyone was excited that we broke out of the falling wedge pattern (white triangle) this morning but BTC also looks to be respecting a larger descending channel within the macro level ascending triangle on the 2hr (did you follow the bouncing ball on that). Sheesh. Notice where the Bollinger Band highs are respecting this boundary from the start of the initial dip. Looks like we just touched the top of this and my start back down a bit?
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Looks like we have now broken through any resistance from the descending channel mentioned earlier. Does this mean we will be on an upward trajectory until we touch the macro level ascending channel? I think that would have us touching 60k.
Note
Putting in a practice 'mock long' at $49573 with stop loss just under existing support level of $47679.
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