$BTC Trading Lesson Day 9: Trendlines and Channels
First, a quick number: BTC was trapped between 79,000 and 81,000 this weekend.
A channel is simply drawn with two parallel lines: connect the highs for the upper boundary and the lows for the lower boundary.
When price moves within the channel, don’t chase it near the upper boundary or panic near the lower one.
The direction is only confirmed once a close holds above or below one side.
BTC is now at $80,777, still waiting for direction in the middle of the channel.
Personal opinion/summary, not investment advice. Follow me for Day 10.
First, a quick number: BTC was trapped between 79,000 and 81,000 this weekend.
A channel is simply drawn with two parallel lines: connect the highs for the upper boundary and the lows for the lower boundary.
When price moves within the channel, don’t chase it near the upper boundary or panic near the lower one.
The direction is only confirmed once a close holds above or below one side.
BTC is now at $80,777, still waiting for direction in the middle of the channel.
Personal opinion/summary, not investment advice. Follow me for Day 10.