BTCUSD Trade The Channel Before Breakout

Price has been trading in a short term bearish channel since August 26. Now price is testing the resistance level of the channel.


BTCUSD Trade The Channel Before Breakout by EmpowerTrader

Strategy:

Scenario One ( Bullish Breakout): Price breaks resistance level of the bearish channel , look for consolidation above the respective resistance level above $7150.

Scenario Two ( Bearish Rebound): Price rejects bullish breakout, potentially moving back to key support level at $6800.

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