When price trends upward or downward and fits between two parallel , the chart pattern is called a channel.
The price trend leading to the channel can be from any direction. The shape looks more like a pipe tilted up or down, but not horizontal. See tops or bottoms for horizontal channels. The two should be parallel or nearly so. Both should tilt upward or both should tilt downward. Price should touch each at least twice as distinct peaks or valleys.Price should cross the pattern from to , nearly filling the available space. Breakout Occurs when price closes outside the boundary and can be in any direction(upside 57% of the time).
SELL:$46.91 up to $47.85
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.