This is a huge bear flag for bitcoin in my opinion. This obviously isn't a science but it is worth noting of the potential fall below 8K if the flag plays out.
Aligned with elliot wave count. Agree. Thanks for sharing
transparent-fx
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made a MTA breakdown on it, this is my markup
kylerhaged
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This incredibly incorrect! The flag pole which you have highlighted is definitely not a pole. If anything it would be the bull flag from the pole beside it, even at that its a bit of a stretch. Thou the part that is marked as the pole is a classic bull flag with a small downward channel.
Other major things wrong is the flag is never larger then pole height wise. A pole should look like a pole not a channel. The bear flag should have a sharp down drop, proceed by its flag which is form with a small upward channel.
This chart pattern fits very well inside a symmetrical triangle. It could be called a bullish pennant but that would need a pole proceed by the triangle.
To draw such a triangle draw the upper trend line from the high of 10,000 to the high of 9400. The lower trend line would start at the low of 8200 to the low of 8800.