#T/USDT#T
The price is moving within a descending channel on the 1-hour frame, adhering well to it, and is heading for a strong breakout and retest.
We are seeing a bounce from the lower boundary of the descending channel, which is support at 0.01704.
We have a downtrend on the RSI indicator that is about to break and retest, supporting the upward trend.
We are looking for stability above the 100 Moving Average.
Entry price: 0.01716
First target: 0.01732
Second target: 0.01745
Third target: 0.01757
Tbtcshort
#tBTCUSD - Entering Consolidation. Drop Out to Previous Lows?theCrypster -
We can see a clear level of resistance here, the descending trend line, after a fresh test & rejection off this level we're going to be entering an area of consolidation - for how long is the question!
If the price was to drop out the lower edge of this consolidation zone, we could be seeing a drop down to previous levels at around 15 or 16k.
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