BTCUSD Did we found a “Moon channel”?
I was watching the charts and noticed that we have found a channel in which we are trading in the last 29 days, as the channel shows.
By placing the FIb. rectractments from the bottom when the price has entered the channel, I have noticed that we have touched 13750, and retracted right below that level building support and consolidating between 13500-13000 levels. We should expect the next test of the ressistance soon, and wait for the next move of the SXP , since we are still corelated with the stock market, especially at the open.
If we brake the ressistance we are going towards 14200, and if we don’t exaust the rally yet, we may see the channel being respected towards 16000-17000 by election day, and by Halloween, we should be either testing the top line of the channel, since we are now consolidating back in the triangle we previously broke above.
One interesting fact is that the famous “Blue Moon” is due 31. October. I know this is an unusual factor for trading strategies, but consider that the previous was just 24 days ago. Yes, 1th of October, when we have started moving along the channel lines bouncing from 10300.
Disclaimer: Not financial advice.
Tell me what you think.