Downward channel must break.

Bitcoin / U.S. dollarBitstamp

Description

⋅ Jan 9, 2018 5:19 PM

See my attached idea about "Stages of a Bubble"
BTC on the daily is starting to look more bullish, however we must break this downward channel. Fib lines seem to be working as strong support.

Trade closed: target reached

⋅ Jan 10, 2018 6:43 PM

Break out!

Comments

Zakir-Ahmed

⋅ Jan 9, 2018 5:37 PM

WHAT U MEAN BY DOWNWORD CHANNEL

jpbrown1023

⋅ Jan 9, 2018 6:14 PM

@ghose12, The parallel purple lines that encompass the downward trend. He's saying we need to break out of that trend in order to make a break upward.

kharak

⋅ Jan 9, 2018 8:04 PM

@jpbrown1023, Thank you JP