So guys, we have been watching the long term descending channel of BTCUSD for weeks now. Let's take a closer look to our trend (a time frame of one hour). The price is currently moving within the bullish pennant and did hit the resistance line so now we have to wait for the confirmation signal in order to know what position to take.
Case#1: If the Candlestick keeps its upside trend then the price might reaches two targets: The 1st price target is settled at $10,400 and the 2nd price target is settled at $10,700.
Case#2: If the candlestick drops and starts moving again within the bullish pennant then I will assume two different price targets: The 1st price target is settled at $9,800 and the 2nd price target is settled at $9,600.
Let's keep track of this movement and Best of Luck ;) Don't forget to hit the Like button. Thank you
Case#1: If the Candlestick keeps its upside trend then the price might reaches two targets: The 1st price target is settled at $10,400 and the 2nd price target is settled at $10,700.
Case#2: If the candlestick drops and starts moving again within the bullish pennant then I will assume two different price targets: The 1st price target is settled at $9,800 and the 2nd price target is settled at $9,600.
Let's keep track of this movement and Best of Luck ;) Don't forget to hit the Like button. Thank you