We are nearing the pointy end of this flag that has formed in bitcoins long term trading. On the daily chart one can see a double top that has begun to form and we will likely see the price revert to either 8000 at the 200 day MA, or 7500 at the long term resistance level in the short term, though a move as far as 6500 shouldn't be unexpected given the triangle here. If the price does not revert to the triangle and instead goes for a second attempt its a pretty bullish signal. If instead we see a pullback to the bottom o the triangle the situation could go either way.
Comment:
Price is holding at the 4hrly 200 MA at the moment. Lets see if it fails or not. If it holds then the bounce could push through 9745 pretty easy.
