CryptoAJT

BTC USD Flag pattern?

Long
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Looks as though BTC may have broke the floor at $31,000. Do we see a bounce at $28,000 level keeping the downwards channel intact? Either way for long term holders the market is providing better prices to accumulate BTC . Comment your thoughts...
Trade active: We have a huge break of the trend... likely to see price reach the $41,000 level to test resistance
Comment: Price will likely consolidate a little, maybe re test the back of the pattern at $35,000 then onwards to $41,000... what are your thoughts?

Comments

You’ve just pointed out the bearish flag pattern but you put the post as LONG?
Reply
CryptoAJT mattpowell
@mattpowell, A bearish flag would be increasing in price through a longer downwards trend. You would see bulls push price higher against an overall bearish trend. Here price is fighting buying pressure...
Reply