veryevilone

Ethereum channel could break up

KRAKEN:ETHXBT   ETHXBT
Hello there. This channel may break up if we are willing to believe its a contiuation pattern. looks like there is some resistance at the red which could stop the price from going further up. There is big green volume candle which suggests to me that buyers are exhausted so the price could dip to bottom of channel, and to be honest it could just break down there. But because of the structure of the channel i am willing to believe that it could also break up. Hmm. This probably doesent help you much, i think i will long only at bottom of channel, it has better risk vs reward and you close the position if the channel breaks down.
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