BITCOIN BTUSD 60MIN it showed a sharp fall and now consolidating. Can buy after the breakout of the triangle. should not close below the pink box if closes more selling can come.
bearish flag/ pennant doesn't buy, wait for bullish divergence, on macd and rsi
SoupKitchenManagement
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@markus41, *dont
themarketcafe
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@markus41, rsi is showing bullish divergence and it doesn't matter if it is a bearish or bullish flag.
SoupKitchenManagement
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@themarketcafe, where?
are you looking at a 15 minute?
we are still in a wykoff resolving a major 4-hour divergence on both rsi and MACD. A meaningful Bullish divergence takes weeks not hours to form.
SoupKitchenManagement
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@themarketcafe, also what do you mean bearish or bullish flag doesn't matter, what charts are you looking at?
themarketcafe
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@markus41, sometimes bullish flags also show bearish movement and vice versa
SoupKitchenManagement
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@themarketcafe, perhaps sometimes, it's also very hard to use such patterns with crypto, only one indicator. however, the flag appears after a large selloff, indicating bearish movement
SoupKitchenManagement
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@themarketcafe, but it doesn't matter it only took 2 hours to prove my point
themarketcafe
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@markus41, i already said shorting below the pink box means we both proved right