dr.orientem

Bitcoin Bear Flag

Short
dr.orientem Updated   
BITSTAMP:BTCUSD   Bitcoin
First target red area. After that i am expecting further selling.
Comment:
Careful. We didn't break the flag yet.
Comment:
For earlier enter this could help.

Comment:
*entry
Trade active
Comment:
First target(red area) reached which was the flags(turned to pennant) target. 2nd and 3rd target is more about the triangle. Can be think seperately. I have combined these two because this triangle form is bearish but don't get stopped between these two.
Comment:
We are in good spot right now but Bitcoin seems short term bullish.
Comment:
After that much of sideway i think 8300 is not a good support anymore. Expect stronger bear movement.
Comment:
Triangle broken down as expected. We are very comfortable now.
Trade closed: target reached

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.