MarxBabu

BTCPERP BITCOIN Two Parallel Channel Analysis -Long

Long
DERIBIT:BTCUSD.P   BTC Perpetual Futures Contract
I wish to make this analysis very simple.
Closely looking at the chart we could see that there was a parallel channel and again the same kind of parallel channel forming.

The First parallel channel was about 700 points and then a big move in Long Trend occurred.
Now in the next wave parallel channel 800 points was the side ways and trying to break that in above side .
Note breaking above side.
With the correlation of the data ,i could see another 1500 points upside from the current level is possible that means we aim for 11k-12k range as next move.


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