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MattMcilwham
Feb 17, 2018 5:59 PM

Bitcoin approaching long term bull flag resistance 

Bitcoin / United States DollarCoinbase

Description

This is the moment where Bitcoin can show that it's going full Chad mode.

A break of this long-term downtrend resistance, arguably bull-flag shows that on the daily chart we are super bullish.

The SRSI is quite oversold, if we can either continue this run and pullback on the breakout (ideal) or a small pullback now, testing 10k for a then break, I am super bullish.

Not shown on graph, TD sequential is over-extended, on 10 consecutive greed TD counts (only 4 if you discount the small pullback midway).

A bounce on the long term resistance could be disastrous.

Comment

Red box is the 50-day moving average vicinity.
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