Falling wedge / bull flag

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
168 3
BTC has been gently consolidating since its 10% spike on 8 Feb and is now forming a what looks like a classic bull flag .

I will enter on a touch of the former green trendline at 3545, and add to my position at 3522 if price drops to the fib 50% level.

SL tucked below FIb 61 level as a precaution.

TP at the previous high 3705 and pink descending trendline around 3790.

Ent: 3545
SL: 3450
TP1: 3700
TP2: 3790
Comment: Big red rejection candle - price could be heading lower.

Comment: SL moved to BE @ 3546
i doesnt look like a bull flag to me, but it could be. best of luck!
MrVolcano tredishion
I guess it was a bull flag after all
+1 Reply
tredishion MrVolcano
@MrVolcano, hahahha true :D looks like u got it right.
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