Construction of a new Bearish Channel Finished?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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If the current high holds, then this pair might have finished constructing its bearish channel within which we can short. If the channel is not invalidated, then we can stay in positions until price has at least hit either the bottom channel line or the one above it. Note that the marked target will keep changing to the down side as long as price keep loitering above that target line. Hope this little helps.
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