This channel formed since Dec 18th around the time when ETHUSD found its bottom around USD$15+.
This is for newbies:
Traders can place trades within this channel to have a more controlled price movements with which you can plan more effectively your trades, take profits orders and targets and stop losses too.
This can break out of the channel bearish or bullish but I am thinking more bullish cause I strongly believe we have seen the bottoming pattern happen in both BTCUSD and ETHUSD. There are also other bullish signals that show we are now starting a long-term uptrend with corrections and minor retracements along the way. I have shared some other charts that show bullish patterns and signals too.
Still its always good to place your stop losses if you have trades open within this channel. In case it goes against you and breaks out of the channel you are still protected with minimal loss.
This is for newbies:
Traders can place trades within this channel to have a more controlled price movements with which you can plan more effectively your trades, take profits orders and targets and stop losses too.
This can break out of the channel bearish or bullish but I am thinking more bullish cause I strongly believe we have seen the bottoming pattern happen in both BTCUSD and ETHUSD. There are also other bullish signals that show we are now starting a long-term uptrend with corrections and minor retracements along the way. I have shared some other charts that show bullish patterns and signals too.
Still its always good to place your stop losses if you have trades open within this channel. In case it goes against you and breaks out of the channel you are still protected with minimal loss.
