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m.sarvi
Nov 1, 2020 8:51 AM

BTC moving inside a descending channel Short

Bitcoin / TetherUSBinance

Description

BTC is printing lower highs and lower lows inside a descending channel on 1H. The channel provides a good opportunity for short-term trades.
The bullishness of the market is not over yet on higher time-frames though, so be careful with your positions.

Ciao

Trade closed: target reached

Comments
bestfarbit74
good chart. we may decline more. on 4H T.F. we may see drop
m.sarvi
@bestfarbit74, Thanks!
EMA200 on 1H is holding strong. Apparently it's gonna bounce now. I assume the next target to be 14.8K.
bestfarbit74
@M.sarvi, yes, maybe. but I think on 4H time frame we have more downward pressure
m.sarvi
@bestfarbit74, You're right. How deep do you see the price go down?
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