Thanks to a fellow trader that pointed out this obvious bear flag, I begin to wonder if this will be confirmed or denied. Are we going to break through resistance or are we going to fail support. One way or another we have about 20 hours before the fireworks start.
If we fall through the bottom of this flag, we're going to see another deep dive and selfishly I am really looking forward to that. If we are able to push through resistance, we're going to definitely see a bull run but be careful not to get caught in a trap! What goes up will definitely go down.
Whether you are in BTC or USDT right now, you should set up some alerts on your crypto apps so you know when the magic happens. Either above 11,250 or below 10,250 will be sufficient I believe.
If we fall through the bottom of this flag, we're going to see another deep dive and selfishly I am really looking forward to that. If we are able to push through resistance, we're going to definitely see a bull run but be careful not to get caught in a trap! What goes up will definitely go down.
Whether you are in BTC or USDT right now, you should set up some alerts on your crypto apps so you know when the magic happens. Either above 11,250 or below 10,250 will be sufficient I believe.
Trade closed: target reached:
My wave pattern timing was off but the target was perfect right around $6k. Check out my other charts for further BTCUSD analysis.
Trade active:
If you move forward in the timeline of this chart, you will quickly notice that we are testing a downward trend line. One that I had from weeks ago. Fast forward through the chart above to see that we are currently testing $11,000. If we fail this, we will likely be in another major correction down to sub $5,000 potentially.