Descending channel and bounce of 0.618 fib level.

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
BTC looks overall bullish despite the descending channel . BTC is still holding above the 200 Daily MA and the 50 and 100 daily MA have a bullish cross. The bounce off the 0.618 level could be an indicator for a channel breakout but I will be waiting for greater movements above the channel resistance and a confirmation bounce off the channel
Comment: Solid looking breakout! Waiting for retest of old channel
Comment: BTC may not retest the old channel if it breaks the next fib level completely

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