I rarely go counter-trend, but this is a very clean bear flag pattern.
After a large sell-off, the price retraced weakly, suggesting the bears are still in control.
Next area of buying pressure is at $1800 and a potential risk:reward of up to 5:1 makes it a trade worth making in my opinion!
All the best,
Phil
After a large sell-off, the price retraced weakly, suggesting the bears are still in control.
Next area of buying pressure is at $1800 and a potential risk:reward of up to 5:1 makes it a trade worth making in my opinion!
All the best,
Phil