JoshNJ82

Downside break of ascending channel

JoshNJ82 Updated   
KRAKEN:BTCUSD   Bitcoin
XBTUSD has dipped below the trendline of the ascending channel. The indicators favor the bears slightly with the macd line crossing below the signal and RSI dipping below 50. A dip below or break above the rectangle pattern (yellow dotted lines) should signal future up or downtrend.
Comment:
An aggressive but risky entry could be placed on the lower short-term trendline ($10,500) with a target of $11,100. Place a tight sl and trail accordingly
Comment:
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.