BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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Mid term price rise to near previous resistance.
THE BULLISH PENNANT FLAG PATTERN
Flags appear as small rectangles usually tilted against the prevailing price trend and mounted at the end of a flagpole. If you don't have a straight-line (or a quick move) price run (the flagpole), then you don't have a flag.
The most important part is the break out which has happened but needs to close above the resistance of the flag for the long position.
VERDICT;
BUY:$3728.2
SELL:$3800 up to $3948
STOP LOSS:$3615
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It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
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Is this a Bullish Pennant Flag Pattern or just another Bart Simpson about to happen? I gave up on predictable chart patterns some time ago. Buy and hold or sell and walk away. The only two choices left IMO.
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