BTCUSD Almost out of downward trending channel!
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I've been watching BTCUSD closely since January ever since it entered this downward trending channel. Now it looks like we are almost out of it.
Questions:
1. Will it close above this channel and continue upwards?
2. There are a number of resistance areas once it breaks out of this channel.
- It is currently at $8523 and RSI of 59
- Next major resistance at $9000, ~$11000, ~$12700, ~$14200, ~$15200, $17200, $20000
3. How long do we keep going up? Are we going sideways and accumulating for a bit?
4. If we don't break out of the channel, support areas at $~7800 and ~$6800 should be looked at.
Questions:
1. Will it close above this channel and continue upwards?
2. There are a number of resistance areas once it breaks out of this channel.
- It is currently at $8523 and RSI of 59
- Next major resistance at $9000, ~$11000, ~$12700, ~$14200, ~$15200, $17200, $20000
3. How long do we keep going up? Are we going sideways and accumulating for a bit?
4. If we don't break out of the channel, support areas at $~7800 and ~$6800 should be looked at.
Nota
1. Previous chart was log. When I turn log off, BTCUSD had in fact broken out of the downward trending channel on April 12th. Using linear from now on as I feel it's more accurate.2. We've currently stalled right at 9200 support!
Penafian
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