mjtrustme

BTC forming a new bull flag or was it a dead cats bounce?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Wait for confirmation to trade.

Confirmation to the upside is a clear break of the trend line and the 61.8% Fibs.

A break down from flag trendline would indicate this last rally was a dead cats bounce and we will move lower. Only time will tell now where we will be headed.

Based off of the indicators BTC is actually recovering and this is a bull flag . It wont be long from now that BTC will break out fo the flag, but we must be very careful, its a risky trade.

Comments

Nice analysis, short n sweet, perfect
+1 Reply
mjtrustme andre4536
@andre4536, Thanks man.
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