I'm seeing a bear flag on the daily chart with a chance for bitcoin to drop to $8,500 USD if the very near future. Of course this is just my opinion and you should trade on your own will.
nice analysis. hope you will reach your target soon.
XYZ-Trader-
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The first bear flag broke out and is now forming a second bear flag in my opinion. I zoomed down to the 1 hour to get a better formation.
anilkanthi
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U were right. It is showing glimpse of it now
kylerhaged
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I am once again going to comment of your analysis due to the fact of it being incredibly wrong.
First of you have drawn a triangle, somewhat improperly at that. Bear / Bull flags are called flags because they well form flags not triangles. You also need a least 3 touches on any line before it even has any meaning otherwise you are playing connect the dots.
If you want to keep it drawn as a triangle then it would be called a pennant or many of the other triangle patterns that exists. But you are forcing a analysis onto a pattern that does not exist.
If anything this could be a ascending triangle the top trend line would be drawn horizontally at 9300 with and upward sloped trend line from the low of 8800 to the high of 9140. Which is a bullish pattern, not a bearish one.
VincePrince
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This is what I will be monitoring at the moment in BTCUSD