BTCUSD is forming the bearish pennant, by Fibonacci-lvls main target 127,20 %. Can reach the active zone than - downward, or go down at once in the small flag (show below).
Trade active
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45min - small flag
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1D
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the second touch the flag's resistance
Trade active
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broke-up the small flag and touched to the active&resistance zone. gliding by support line
BTC seems to bounce as largely expected of people that 58XX zone will do the magic. I saw a great analysis on the log scale showing exact price action on a re-test of major level. It worth looking at. If this is correct then BTC will be on with a great moves.
Potential wave pattern can be follow from this chart
BTC in recovery mode, let see how far this will last. It has some nice pattern.
@srsbaracct, thanks! Good luck and have some nice trades!
InvestingScope
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This is not a far fetched scenario. Although the long term trend remains bearish, as long as 5,762.90 (previous 1D Low) remains intact, then 1W will seek its new Lower High near the 0.618 retracement level since July's 8,500.2 Top, which is 7,469.70. After that it can resume the long term downtrend.
Potential wave pattern can be follow from this chart
BTC in recovery mode, let see how far this will last. It has some nice pattern.