BTCJPY is trapped in a Channel Down formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a support line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start of a new trend. It may also be that this convergence factor may result in the ideal setup for swing traders that are on the lookout for a possible bounce-back. Whatever happens, an initial move towards 1.4414E+07 is expected in the short term.
Related Posts
BTCEUR likely to test 95807.1484 in the near future. Where to next?
BTCEUR is moving towards a key support level at 95807.1484. BTCEUR has previously tested this level 4 times…
A final push possible on XRPBTC as it starts approaching a price line of 2.0460E-05.
XRPBTC is en route to a very important line that will be a definite deciding factor of what…
A possible move by ETHUSD towards 2652.1249
ETHUSD has broken through a support line of a Triangle chart pattern. If this breakout holds true, we…