Uncomfortable place for a bearish flag. Moreover MACD is ugly and lower BB not too far.
RSI on its own support ( channel ). Only Stoch RSI looks "healthy".
Lately each and every pattern was respected: falling wedge, bullish flag, rising wedge, descending triangle. Now it's time to either confirm or negate this flag ...
I'd suggest caution here.
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Worth keeping an eye on OBV as well.
4H: Basically within a falling wedge.
1D: Within a channel. Marked some meaningful support.
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Still within flag.
Price likely to break within 24 hours. Move down expected, unless 6500$ can be take *soon* and *with volume*.
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break down as expected.
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Bearish flag, bullish flag.
Closed 50% of my Long trades at 6900$ mark, as 6600-6900$ was / is the likely "technical" rebound area. The remaining lots will rely on TP, since we have a bullish pennant so far.
Bulls need to pierce through 7200$ to try subverting the trend. It's a long shot.
Failing to break 7200$ price remains at risk of H&S.
Awaiting SEC announcement ( if any ) on Proshares ETF and CME future expiration as they both can ignite volatility within the next few days.
Be careful, as price may abruptly turn any moment from now.