BTCUSDT
BTCUSDT : Descending Channel
Pattern : Descending Channel.
What is Channel Trading?
When trading a channel, you use parallel lines connecting the swing highs and swing lows of a market’s support and resistance.
The most common method to mark a channel is by using trend lines.
The swing highs that are marked by the trend line known as the channel’s resistance levels.
The swing lows that are connected to create the channel become the support level.
We can use a channel to find support and resistance as the price continues to move higher or lower.
How to Trade Descending Channel ?
Sell at Resistance, Buy at Support with Price Action Confirmation.
We can use Channel to find potential breakout trade with stop loss as soon as descending channel breaks Resistance.
RSI indicator can be used to find possible bullish divergence for reversal Trade.