jbutler7

VTC bear channel breakout or continuation?

POLONIEX:VTCUSD   Vertcoin / Dollar (calculated by TradingView)
Zooming out to the daily I see this bearish channel has formed for the last few weeks. It has tested the top of the channel several times and failed. WIll the recent bullish sentiment pick us up out of this channel? Hard to say, as the daily might be overdue for a correction based on MACD possibly about to turn downwards. RSI is steady, but at the top of the channel resistance line, the current daily candle looks like a doji which means lots of indecision, and potential downturn being at the top of recent bullish moves. If it keeps pushing it could be a bullish breakout, if not probably headed downwards and I guess that the next test of the channel resistance line will be the one that breaks us out of here cuz             we been here foreva already! All eyes on BTC             as that will be a big mover for all of the alts.
Comment: So far it's looking like it will stay in this channel, the green line is acting as significant resistance here.
Comment: As with everything, VTC is turning green and has broken out of this channel! Woot.
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