After break down channel down, BTCUSD failed perform more bearish and bounce from fibonacci retracement at 2984. Right now bullish flag pattern perform with 4145 as confirmation. If bullish confirmation success break up, Bullish flag projection at 5121.68
However, if this flag break down, 2984 will be support level again.
Isn't that consolidation wave sitting at the bottom of the overall downtrend? Couldn't it be viewed as a bear flag, especially when viewed from the daily? Fan of your work, just wondering what you take on this perspective is. Thank you for your contributions!
cigir
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@tl93, Yeah that look like the end of an exhausted B wave to me.
midevilone
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timing, spot on.
VishalTR
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Thank You ... was waiting fro your inputs. On time.
bit_Chipper
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im kind of a newb when it comes to being technical with charts but i want to learn, how can i tell that its a 4-hour chart other than scrolling from candle to candle?
@Throwaway_Money_SSS, ah copy that.. 240 mins in 4 hours, i pass 2nd grade = P
goldbug1
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Nice article again Dian!
the_sunship
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above 4100 and this thing will explode, below 3500 - we'll tank
bcredeur97
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I'm having a hard time trying to guess what bitcoin is going to do in the next couple of months. really can go any direction at this point. Guess we'll see :)
On topic... this looks like a good trade! Can't wait to see what happens.