checkm8

BTCUSD Bear Flag in Ascending Broadening Wedge

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD appears to be forming a bear flag within an ascending broadening wedge . Based on this assumption, I am expecting an inflection around 8,400-8,600, which would be at the 38.2% fib level, running from the local bottom of 6,400 to the local high at 9,750. In alignment with the ascending broadening wedge , this would be the second touch of the bottom trend line (there are typically three touches of the top and bottom trend lines before an upwards breakout).

Please note that the bear flag pattern may extend further before breaking down, thus I am moreso observing the pattern as it develops rather than trying to call the tops.

Follow at your own risk, as there are often bear and bull traps along the way, and as always - BUY THE FKING DIP.

Comments

sorry sore loser that you didn't buy at 6k. buy now or cry later when it goes to 15k
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checkm8 samiswilf
Lol as a matter of fact, I did and I'm still hodling it. Sour losers deny the possibilities of small corrections within very bullish patterns
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Noice
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Looks good bro :)
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