BCH/USDT breakout of vertical channel resistance and a bullish s

The BCH/USDT trading pair has experienced a breakout from the resistance of a vertical channel, indicating a bullish signal. The target price for this bullish movement is set at $266, which is determined by the height of the channel. However, if the price drops and closes below the level that was previously acting as resistance (and is now expected to act as support), a stop loss should be triggered. The request also seems to ask for a description of a trading position based on this analysis.