The falling wedge broke out yesterday and confirmed a 12 hour candle close today on BITMEX:XBTUSD . We are now painting a nice bull flag consolidation. A breakout up would likely see a retest of the major down channel resistance. We may see some turbulence in the $9200 area due to the 200/50 MA on the daily. So i'll be watching in this order: flag breakout, MA...
What i'm seeing? Indecision in the market short term. Where we are at on the daily is close to breaking low, so bulls are trying to protect that support, risk adverse and gamblers are buying, bears are shorting anything that bounces, and big bears are protecting their large shorts by executing market sells at critical signal points. Prediction? At some point this...
