I was analyzing my previous chart when I saw it, a possible flag pole and pennant seems to have formed. In a downtrend this is a VERY bearish signal. I'm hoping it's invalid. Typically we would calculate our target as the width of the pole subtracted from the height of the pennant. Eeeek. Great for shorting if that's your thing. Your stop loss would be at the height of the pennant, btw. Hoping someone who may see this differently can come in here and comment as to why this idea is wrong. By all means, don't hold back. That being said, I appreciate the likes I've received ladies and gentlemen so thank you for that.
This is not financial advice, it's just my opinion. Feel free to share yours.
Cheers!
This is not financial advice, it's just my opinion. Feel free to share yours.
Cheers!
Comment:
This idea is still in play. Target is 6,272. Whales tried to fake everyone out upon falling out of the flag at the bottom of the pole by propping up the value with pumps here and there and then on Saturday night when most are out, they let go of the pressure valve. Nasty whales!
Trade closed: target reached:
Press the play button. Did nobody see this call?? can I get a like up in here?? I will reassess BTC in the next day or so. Be careful meanwhile as I think we may see ~5800 at a glance.