Be interesting to see if this second channel plays out as cleanly as the first.
Upper resistance looks well-established but lower support could do with another retest to confirm the pattern.
$9,800 support could prop up price action temporarily but MACD, RSI and moving averages all currently favour a bearish continuation.
Assuming the channel plays out all the way down to the encompassing wedge support, like last time, then the next major support is likely to be around the $8,700 mark.
Thanks
Upper resistance looks well-established but lower support could do with another retest to confirm the pattern.
$9,800 support could prop up price action temporarily but MACD, RSI and moving averages all currently favour a bearish continuation.
Assuming the channel plays out all the way down to the encompassing wedge support, like last time, then the next major support is likely to be around the $8,700 mark.
Thanks