It is long ago that i have analyzed BTC for you, so it is time to analyze BTC again :-) Why? because BTC formed a flag -and the guys who are following me since many years should know, that flags are my favourite BreakOut-patterns :-) For those who are not really familiar with flags, i attached a mini-flag-tutorial :-)
This year we have seen a huge 2. buying-wave in Cryptos, here BTC, which ended at ~ 14.000USD with a sharp drop and afterwards a kind of retest, but the top could not be exceeded! The consequence was the actual runnig phase of consolidation, which seems imo very healthy at this moment and formed a kind of bullish flag. Perhaps we have seen the end of this consolidation phase as we have kissed the maximum Fibo two weeks ago. In my opinion, the character of BTC is neutral as long as we trade within the flags body. The key for me at then moment is the shortterm flag within the midterm flag: Breaking this flag to the one or other side will show us the way the party goes:-)
The midterm flag will be destroyed with prices < 7.250USD
If you want to read more btc-ideas, please feel free to like my idea :-)
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shorttermflag triggert the downside...let`s go..RSI has much place
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Kissing EMA 200!
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perhaps a shorttern kontermove? Watch the RSI!
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RSi is quite nice now? A contermove should follow...the market is still bearish below the last low