Bitcoin Quick Bullish Channel Set-Up: Trade The Wave!

In this analysis I want to take a look at the bullish channel that BTC has been trading in for around 3 weeks. The bottom support and top resistance are perfectly matchin price action, so my guess is that a lot of traders are looking at this set-up.

I anticipate that BTC will reverse from this point. Unless the stock markets break down, the chart is clearly suggesting a reversal.

To minimize potential losses we keep a tight stop. Target at the top resistance. When doing this we can create a decent trade with a good R/R ratio as seen on the chart.