🔰Channel is an element of technical analysis🔰

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar

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Today we are talking about channels. Come on💪🏻

Technical analysis defines a “channel” as a corridor in which a price chart moves limited by the support line below and the resistance line above.

There are three types of channels:

📌bullish channel
📌bearish channel
📌sideway or range (flat, trendless)

The channel breaks, when the price breaks through either support or resistance.

Breaking resistance on the bull channel is a good signal to buy. For a bear channel the opposite is true.
With the side channel, the signal is less strong. If we break through support on the bullish channel and resistance on the bearish , we get a weak sell / buy signal (it is better to get confirmation from other indicators).

In addition, you can play inside the channel, observing two rules:

⭐the longer the price moves in the channel, the more likely it is to exit it;
⭐play better towards the main trend.

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