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PAKABUL
Oct 20, 2022 11:00 AM

Descending channel - Breakdown prediction BTC & ETH Short

BTCUSDT Perpetual ContractBybit

Description

A big move is on its way, by looking at the price action I have noticed it has respected this descending channel upper line resistance serveral times. Also mid line is accepted as a support.

Given the angle of the channel, it is more likely for it to break downwards, to 12-14k.
Also seeing a rising wedge on Eth on 4h time frame, ETH could be going to 800 levels.

Based on the risk/reward ratio its an interresting trade to make at this point.
You decide! good luck

Comments
SwallowPremium
Very detailed chart! Thanks for publishing.
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