Channels are tuned and arranged to the nature of a year fluctuations creating groups of support and resistance zones separated by fibonacci lines.
Since price has dropped to a local support level, at least a short-term pullback can be expected especially in current generally bullish sentiment.
Nothing can be promised, so the scheme covers lower support levels based on fractal, in case btc goes sub-50k.
First classic signal of general trend reversal is the case wherever price breaks below red uptrend line. It's quite significant because other parallel red lines are fit into structure of growth and price has reacted to them when intersected.
Since price has dropped to a local support level, at least a short-term pullback can be expected especially in current generally bullish sentiment.
Nothing can be promised, so the scheme covers lower support levels based on fractal, in case btc goes sub-50k.
First classic signal of general trend reversal is the case wherever price breaks below red uptrend line. It's quite significant because other parallel red lines are fit into structure of growth and price has reacted to them when intersected.
