ibankbitcoins
Short

Bitcoin market update; inside bear flag

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
Bitcoin prices for the last 2 days have been constrained within a bear flag . If you are not familiar with the flag formation , check out the flag guide below. At this point, there is nothing to do but wait for the next breakout. As you know, bear flag is a continuation pattern, kind of like a pause in the market before continuing the trend. Target is 440 on the usd or 2800cny, the previous low.


I would like to do a longer post, but the market price action has nothing interesting to say. On the other hand, people are raving about the jennifer lawrence bitcoin indicator, wildly amusing.

My flag trading guide:
http://ibankbitcoins.com/btc/bitcoin-bull-flag-trading-pattern-recognition-and-buy-setup

I do daily bitcoin market updates. Follow me on my bitcoin trading blog or live trades on twitter: ibankbitcoins.com @ibankbitcoins
When do you expect the price will be @ 2800 again?
And do you also use indicators to predict were the market is going?
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The next wave down should be there. If we breakdown, within 1-2 weeks. I do not use indicators anymore, I used to.
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