BRISEUSD strong rise but still within the Channel Down.

Bitgert (BRISEUSD) is having the strongest 2 day rise since February 01, approaching the 1D MA200 (orange trend-line) which is unbroken since April 27. This isn't however yet a reason to buy for the long-term as the price remains within the bearish trend of the long-term Channel Down pattern since the August 31 2022 High.

In order for us to buy, we want to see a 1D candle closing above the 0.382 Fibonacci level (0.00000041), in which case we will target the 0.618 Fibonacci at 0.0000006355. Similarly if a 1D candle closes above Resistance 1 (0.0000007065) then we will buy the break-out and target Resistance 2 at 0.000001285.

Until those break-outs take place and the price remains within the long-term Channel Down, expect a rejection at the top (Lower Highs trend-line) and the trade is a sell, targeting the Higher Lows (dashed) trend-line at 0.0000002875.

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