Wassup moonboys and good evening. Btc is forming again this bearish pennant and I'm positive for it to break down. Also rising RSI channel could be used to identify the break down. This would make easy trade as btc is pretty close to the resistance of pennant. My target would be around 10200$ at the lower trend line.
Can you please help me understand how a rising rsi channel can mean break down. I thought it meant a breakout in the uptrend as shown on the 14th on your chart. Thank you.
JR-6o9
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@theoihgroup, Hey, I meant u can use the break outs from the rsi channel to predict prize movements. If the rsi channel breaks to the downside it can be used as an indicator for price to break down, out of this pennant.