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FieryTrading
May 19, 2023 1:57 PM

🔥 Bitcoin From A Different Perspective: Bull-Flag? Long

Bitcoin / United States DollarCoinbase

Description

Sometimes I like to look at the charts in a different perspective to remove potential biases. When we invert the daily Bitcoin chart, we get a new chart that we can work with.

As seen on the chart, it seems that BTC is currently trading in a bear-flag pattern (which becomes a bull-flag when you make the chart normal again). This means that the most likely outcome is that the price will continue the current longer-term trend.

Furthermore, the blue diagonal resistance line seems like a very logical area to retest at some point in the future.

Seeing that we're currently still in the bear-flag, I'm quite certain that the trend will continue. As long as we're below the blue line, the bulls are fine.
Comments
StewySongs
👌👌👌👌🙏
DeGRAM
Fantastic work
WalterMoon
Cool BTCUSD idea buddy
LegionQ8
You made me reconsider but anyway thanks for great idea
FirstNameHelen
Well, if you say so about btc, its probably true, agreed
ArmanShabanTrading
Great analysis!
KlejdiCuni
Possible move as long as the price is close to a very sensitive zone. Thanks for sharing!
markjordan_23
why is it upside down thou?
FieryTrading
@markjordan_23, first sentence of the analysis
markjordan_23
@FieryTrading, i get that but wouldn't the flag be a ascending triangle if it was the other way around i.e the right way around?
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