Aurum Markets Blog Technical Analysis Channel Down breakout on BTCUSD

Channel Down breakout on BTCUSD

Channel Down breakout on BTCUSD post thumbnail image

BTCUSD has broken through a resistance line. It has touched this line at least twice in the last 11 days. This breakout may indicate a potential move to 99541.1854 within the next 2 days. Because we have seen it retrace from this position in the past, one should wait for confirmation of the breakout before trading.

Supported by Upward sloping Moving Average

Target: 99541.1854 Entry: 97725.4173 Stop: 94087.33

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