Bitcoin, Descending-Channel Breakout Happens Sooner Or Later!

29 thg 8, 2020

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Hi Traders,

let's have a look at bitcoin 1-hour timeframe perspective, bitcoin is trading in a bigger descending-channel-formation marked in my chart in black, such formations normally confirm sooner or later, bitcoin currently tests and penetrates the upper boundary of the channel and when it moves above has some good possibility to continue, a full confirmation will happen when bitcoin moves above the rising-resistance-line marked in my chart, when bitcoin moves above this line and confirms it as support there can be a trade placed, although aggressive immediate entry is also possible here the conservative waiting on confirmation will be much smarter.
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Reason: Entry When Breakout And Confirmation

Entry: 11600-11650

Target: 11850

Stop-Loss: 11400

Minimum Risk-Reward: 1
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In this manner, thank you for watching, support for more market insight, all the best!

Information provided is only educational and should not be used to take action in the markets.
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