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autoramajj
Mar 13, 2018 8:07 PM

Bear Flag targeting 6k Short

Bitcoin / DollarBitfinex

Description

Bear Flag on the 4h chart, plus all moving averages headed to down.

Trade closed: stop reached

Target reached on 7300
Comments
Artesp
The Bottom of the flag is offering strong support. The downtrend line represented in blue, in your chart, is also offering some support. I will not be surprised if it does a bear trap (a small dip into $8,800 territory)to shake the coins out of people's hands and them spike up to around 10K.
A lot of hungry wolfs out there salivating for our BTC. Trade with care.... Use Stop-Limit order to control losses. The "is going to 6K now!" is getting kind of old now.
arrie1992
@Artesp, True that
autoramajj
@Artesp, Nice
VWuelfrath
Just look at the volume in the bear flag. People are accumulating here. It is going up to retest the downtrend resistance before crashing down again.
VWuelfrath
@VWuelfrath, I'm talking here about the logscale downtrend, which is the one that matters most
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autoramajj
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