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The price will certainly continue this direction, although there is nothing assured of course.
The question is: why a bullish setup in a supposed bearish situation? An underneath channel break is bearish right?
Wrong. A meta-analysis is needed. For example, a double top pattern is only valid when, Already having happened the double peak, a deeper one appears that bounces all people off the market. The pattern is confirmed in the peak that breaks the two peaks, before going in the right direction.