BTCUSD
As we can see in the chart, we had been making a Bear Flag Pattern on Bitcoin , www.freeonlinetradin...n.com/bear-flag.html , in the last 2 weeks. Although the price of Bitcoin will need to break below the down tend line at about $6,500 to confirm it.
On Sunday of this week we made a candlestick hanging man pattern, which is a reversal pattern, www.freeonlinetradin...com/hanging-man.html .
The up move of the last two weeks seems very weak, very shallow with average or below average volume. Which means that the odds of the down trend to continue are very high. I will be expecting it to decline to about the $5,200 level or so in the next six to twelve days, will see. Not a bad place to go short in the short term.
Good Luck in your decisions
Trade closed: stop reached:
Pattern invalid, we broke above the upper trendline.
