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TheChartGuys
Jul 27, 2018 11:20 AM

BTC Potential 4 Hour Bear Flag 

Bitcoin / United States DollarCoinbase

Description

BTC has absolutely no volume on this bounce attempt even with a 4 hour inside bull break.
The 4 hour chart is a potential bear flag and if we lose hourly higher lows we will likely confirm it.
Bears are comfortable in the short term with the top of the bounce as a tight stop level.
Still healthy consolidation on the daily and likely to see another declining volume day today.
If the 4 hour bear flag is confirmed we will likely see hourly RSI oversold again and if 15 min RSI is under 25 with hourly RSI as well, that is when I get interested in an oversold bounce.
Bulls will have to get over hourly EMA resistance to prove any bounce strength.
Comments
Homersie
So no bear flag now?
HowieBot
Thanks for your regular updates - love your work.
DavidC71
is that enough volume for ya?
CryptoDaggers
Thank you my friend.
Foster306
Thank you.
PipMiesterStronger
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weslad
UnknownUnicorn2774089
speaking of volume...poof
Crypt0r
wyckoff spring outcome ?
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