Let's look for a flag breakout here. Alternatively, we could breakdown and consolidate. Remember the 1-2-3 strategy we use, and keep your stops below the impulse waves on the 1HR or larger TFs.
Bounced off classical support. Idea is still valid if we break out and trade above 0.226 BTCs.
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Watch for breakdown around this level. If not, we are bullish.
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We broke down after the market came back around (see, the market always comes back around). Unless we trade back in the shaded area and cross the downtrend line, the uptrend line on the chart will be resistance and we'll breakdown further.