On a 15 minute chart, I see a long upward trending channel. Notice that SXP is sitting right above the top of the upper line. If it breaks through, I see support 3.35 - 3.30. If it busts through those, I'm looking for a bounce off the bottom of the channel at approximately 3.00. Alternatively, perhaps a bounce off the top of the channel and likely taking out the...
Well this seems to be turning into a sticky wicket, as they say in Britain. My idea shows BTC trending down in a a downward channel. I see strong support at the 44943 level, so perhaps a bounce off it to the upside. If not, then continuance of the downtrend until intersecting the long-term trendline in yellow. Perhaps that will halt the descent. If not, then its...
If we bounce off the bottom of the channel, I'll be riding it up with a sell ready in case of a turnaround. If we break the channel, well, it's disconcerting.
