jonathanvn

(W) - BTC in Symmetrical triangle + Possible Bull flag?

KRAKEN:XBTEUR   XBT / EUR
What most people don't realize at times like this is to zoom out and check the bigger picture.
This is the weekly chart of bitcoin which show a symmetrical triangle formation and possible bull flag .

Also note how the volume is slowly lowering since the kickoff of the bullish run.

In the shortterm bearish scenario:
My first target is going long 6500-6700
My next target is going long 5300 - 5500

in the shortterm bullish scenario is going short at 9000 and 9500.

In my eyes confirmation of a continued bull run would be a higher top than the previous one with good volume .
Like for example a strong close with not a huge wick above 10k.


These are very safe entries looking at the chart now if the volume keeps the same.
Comment: UPDATE: Invalid TA due to news.

Comments

Dude, although you post that your TA is invalid, I think it has work perfectly. Look where the price stopped and is actually stuck.
In my opinion this is a very valid TA. Good Job!
+1 Reply
jonathanvn artes47
@artes47, Thanks man, I appreciate your feedback. Indeed it got stopped at the flag channel's support which is nice.
Reply
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