This is the importance to always drawing your Trend channels on the scale of macro and micro trending channels because it lets you know when the price breaks and makes a new Xtreme and you can predict where did price it's going to move next
so in this case on bitcoin I'm going to analyze the 60k zone after that big break we had couple of days,
so as you can see here I have a big Trend Channel which is the macro and a small Trend Channel which is a micro
all channels work the same but what I want you to guys understand is that after the price breaks our Channel the the price always makes a new move
for example
in this macro Channel it's trending up we got a higher high and then a new extreme after the new extreme it touches our resistance and then goes back to another downtrend leg and this will happen the same after we get a confirmation
Under the micro Channel which is this one right here brakes we just waiting to the price breaks the micro Channel and then we'll have our confirmation of a reversal or if the price will keep going down oh, now another thing is at this Candlestick right here gets my attention because it's long week we already have creep ounces in this me grow Channel and in all the drape bounces we have this reversal Candlestick so in any moment we will see the price bouncing back to the consolidation Channel which is the orange right here I guess it's a matter of time okay I'm going to wrap this up for today this is Mike on tradingview.com you guys have a good one
so in this case on bitcoin I'm going to analyze the 60k zone after that big break we had couple of days,
so as you can see here I have a big Trend Channel which is the macro and a small Trend Channel which is a micro
all channels work the same but what I want you to guys understand is that after the price breaks our Channel the the price always makes a new move
for example
in this macro Channel it's trending up we got a higher high and then a new extreme after the new extreme it touches our resistance and then goes back to another downtrend leg and this will happen the same after we get a confirmation
Under the micro Channel which is this one right here brakes we just waiting to the price breaks the micro Channel and then we'll have our confirmation of a reversal or if the price will keep going down oh, now another thing is at this Candlestick right here gets my attention because it's long week we already have creep ounces in this me grow Channel and in all the drape bounces we have this reversal Candlestick so in any moment we will see the price bouncing back to the consolidation Channel which is the orange right here I guess it's a matter of time okay I'm going to wrap this up for today this is Mike on tradingview.com you guys have a good one