Rising Bear Channel Breakdown $CRWD
Perfect rising bear channel.
As you can see since the channel began forming June 7, 2022 $CRWD rallied to top of channel, price action then returned it to support line of $148 it then rallied again towards top of channel, only to be rejected back support line. Next subsequent rally only took it to upper 1/3rd of channel, not all the way to top of channel, that was the first sign of weakness. Each subsequent rally or bounce only took price back to middle of channel (dashed line), until finally price action could not even get off support line until it finally broke down, today 8.31.22.
As you can see since the channel began forming June 7, 2022 $CRWD rallied to top of channel, price action then returned it to support line of $148 it then rallied again towards top of channel, only to be rejected back support line. Next subsequent rally only took it to upper 1/3rd of channel, not all the way to top of channel, that was the first sign of weakness. Each subsequent rally or bounce only took price back to middle of channel (dashed line), until finally price action could not even get off support line until it finally broke down, today 8.31.22.
$CRWD Huge Volume on break down of channel uptrend is confirmation of big liquidation.