LIVE#BTC/USDT Trade setup:
Following a bullish breakout from Channel Down pattern and above $28K resistance, price resumed its Uptrend. Now it’s reached our target of $30K-$32K resistance zone and is getting overbought (RSI > 70), which suggests that price could pause its advance.
We wait for price to either 1) break above $32K to signal resumption of uptrend, or 2) pullback near $28K support for a swing entry in uptrend.
Pattern: #Price was trading in a Channel Down pattern. With complete patterns initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout.
Support and Resistance: Nearest #Support Zone is $28K (previous resistance), then $25K. The nearest Resistance Zone is $32K.
