We have broken out of a sideways channel with a sharp ascent. A bull flag
appears to be forming which would be confirmed by breaking RSI trendline
, and low volume
which would expand soon after BO. Measurements taken into account for a long trade.
Note: When the price range constricts, (use bollinger bands
for visual), for several hours (here 5 hours), Bitcoin
prices generally bursts upward.
Note: Expect profit taking at half the height of the flag pole as explained here http://thepatternsite.com/flags.html