Hello, traders.
TEZOS/BTC is inside a bullish uptrend channel on the 4-hours chart, so we believe that the price has room to go test the top of the channel, and later the important resistance level.
What Is an Ascending Channel?
An ascending channel is the price action contained between upward sloping parallel lines. Higher highs and higher lows characterize this price pattern. Technical analysts construct an ascending channel by drawing a lower trend line that connects the swing lows, and an upper channel line that joins the swing highs.
Ascending channels show a clearly defined uptrend. Traders can swing trade between the pattern’s support and resistance levels or trade in the direction of a breakout or breakdown.
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TEZOS/BTC is inside a bullish uptrend channel on the 4-hours chart, so we believe that the price has room to go test the top of the channel, and later the important resistance level.
What Is an Ascending Channel?
An ascending channel is the price action contained between upward sloping parallel lines. Higher highs and higher lows characterize this price pattern. Technical analysts construct an ascending channel by drawing a lower trend line that connects the swing lows, and an upper channel line that joins the swing highs.
Ascending channels show a clearly defined uptrend. Traders can swing trade between the pattern’s support and resistance levels or trade in the direction of a breakout or breakdown.
Push the like button and follow us!