Hi y'all, thanks for sparing little time reading my analysis. Looking at the 4H chart bitcoin
, you could see that right now bitcoin
is making another bear flag
which is the 3rd time it testing the minor support trend line
. Even though if bitcoin
manage to rebound (again). Yet as you can see that the room to rebound is getting smaller and smaller due to narrowing minor resistance trend line
. From my perspective, this means that this is the last chance for bitcoin
to touch and breach the minor resistance trend line
or else it will slide to test the major support trend line
at approx. 7k USD. If it's succeed, bitcoin
is like getting out from cramped room to widely meadow and have it's chance to test the major resistance once again.
Looking at the timeline which by the date range still have 12 bars or 2 day till the edge or minor resist and support. So maybe bitcoin
may consolidate inside bear flag
which also by coincidently (or not) waiting for the G20 news.