The consolidation flag may decide the future evolution of BTCUSD. Our scenario is bearish, short open interest is increasing suggesting a continuation of the dip. Targets are given in the chart, final target must be in the 5200 area, though a greater extension may be expected driving price towards 4900-5000usd zone.
Comment:
Resistance was broken, BTC is now at the top of the channel. A close in 4h above it could mean the start of a short term bullish trend, which would be confirmed over 6800usd.
Trade closed: stop reached