Last night a 2.7% move on BTC is flagging out, usually when this happens another similar move will happen, the move will be as powerful as the previous one considering the height of the bull flag pole pole taking us exactly under the 6800-6900 resistance area, but we will break the bearish trendline that has been set since July. If this happens, we might be in for a trend reversal and another bull market may start peaking its head in, but first we have to clear the 6800-6900 resistance. We'll see how this goes, will try to keep you up to date.
Comment:
Huge fail by the bulls. To me it looks like somebody is holding BTC price up and trying to pump it. The chart shows a huge influx of volume and then it just dried up in minutes. That is usually a sign of a pump n dump, there seems to be no-one stepping up to buy BTC which means we will probably have one more big shakeout before accumulation can begin again. We might still slowly move to 6800-6900 range and dump from there, the volume has been ridiculous at 3-4BLN, volume only increases when we have huge red candles.