BTCUSD what do we see? The price is actually sandwiched between the strong trend resistance from November 21 and the strong support level of the uptrend channel from June 18, 2021. The price on the upward momentum tests the downward resistance and falls to the support where it goes into a consolidation phase.
Next I will break down two situations: Long and Short Long set-up (a pullback from support). It is worth considering such a development while the price is inside the ascending channel. On September 7, we see a false break of the uptrend channel support and the price moves into consolidation after a technical pullback to the support. The technique here is simple: buy from the support during the up trend, but on the condition that the price goes up from the local resistance 20500 and consolidates above it. In that case there will be a potential for the price growth to the zone of 21900
Short Setup. It is a breakout play of the price channel. In yesterday's "Trading View" tutorial, I told you how to break a channel. Since we see a retest of the support of the ascending channel and a consolidation instead of a pullback, chances are we are seeing a pre-break consolidation. It is acceptable to open the short positions if the price comes down from the area of 19850, or on the pullback, the potential target in that case will be the support of 17630.