Bitcoin broke out of the channel from hell

Bitcoin is now out of the channel that brought it from 7200 to 3600 in less than 48 hours. Hopefully it will not go back into that channel, because that would mean sub 3K.

Transaction en cours

New channel found. Let's see how this plays out.

Trade fermée: ordre d’arrêt atteint

Stopped out of this one. We're not seeing a rebound yet, it can go sideways for a while through the capitulation phase before we see a true bottom.

Transaction en cours

Another move out of the channel is about to be tested.

Note

And we're off!

Trade fermée: ordre d’arrêt atteint

Stopped out of this one too at a small profit. Pattern was broken so all bets are off.

Transaction en cours

Back in... got faked out of that.

Note

This trade is done. It was good while it lasted!

Note

Just to recap, this is how I identified the bottom. The move back up was more gradual than expected.

King_of_Extremistan

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