BTC/USD about to break out of its ascending parallel channel

While BTC/USD may have made a golden cross today, other technical indicators spell potential trouble.

The MACD is showing a bearish divergence while the parallel channel established in recent months is in jeopardy of being broken to the downside.

Watch for support about 9,180 – a break through the bottom of the channel could mean a retracement to this level. If that's broken, watch out.