it seems bitcoin is forming a bearish flag pattern. we can find a breakdown in this pattern, but we still can not confirm this breakdown for the following reasons:
1- the Volume is to low
2- The price has not left the Break Down area quickly
3- We can not identify a strong red candle
To confirm this breakdown, Bitcoin must first breakdown the Renko swing pattern.
If the price returns to the flag pattern, the current failed breakdown can be considered as a potential spring.
1- the Volume is to low
2- The price has not left the Break Down area quickly
3- We can not identify a strong red candle
To confirm this breakdown, Bitcoin must first breakdown the Renko swing pattern.
If the price returns to the flag pattern, the current failed breakdown can be considered as a potential spring.
For more of my on-chain analyses, visit my CryptoQuant profile:
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
For more of my on-chain analyses, visit my CryptoQuant profile:
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.