🔥 Bitcoin Short Term Channel Trade

Bitcoin has been trading in this channel for a few days now. At the moment, it's making its way again to the lower support of said channel. This trade is based on the idea that the channel will hold and launch BTC back up.

Before entering this trade wait for the price to touch the Entry line. Higher time frames yield a higher predictive power.

On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs/lows and round numbers. Do your own due diligence.

Happy trading!