Possible ascending triangle forming on the weekly timeframe. Target for long 10000-10150 if this happens we still could be in an bullmarket as we break the 21EMA on weekly timeframe
Also this could be a bear flag with targets between 5700-6000..
You can see with the price range tool that the reward is higher to break down. More bearish indicators are that we are under the 200 daily MA and under the 21EMA weekly.. and the RSI is forming a descending pattern!
It is still soon to tell because we haven’t been trading that long in this range..
The bulls are trying to hold the 100MA weekly. If this breaks, also the range between 7700-8000 could be a strong support. But still I believe there is a bigger chance that the bear flag plays out..
break out points.. ascending triangle a daily or weekly close above 8800..
Bear flag 7700 this will be a lower low and below the 100MA weekly..
These numbers could also trigger on the 4h timeframe..
If you like my charts you could help me out with a like and a follow.. also you could use my link for bitmex trading which would help me a lot and save you some fees for a period
www.bitmex.com/register/Ci1A3v
I’ll try to keep you’ll updated the best I can
I’ll post some more charts on smaller timeframes soon!
Trade save all!
Also this could be a bear flag with targets between 5700-6000..
You can see with the price range tool that the reward is higher to break down. More bearish indicators are that we are under the 200 daily MA and under the 21EMA weekly.. and the RSI is forming a descending pattern!
It is still soon to tell because we haven’t been trading that long in this range..
The bulls are trying to hold the 100MA weekly. If this breaks, also the range between 7700-8000 could be a strong support. But still I believe there is a bigger chance that the bear flag plays out..
break out points.. ascending triangle a daily or weekly close above 8800..
Bear flag 7700 this will be a lower low and below the 100MA weekly..
These numbers could also trigger on the 4h timeframe..
If you like my charts you could help me out with a like and a follow.. also you could use my link for bitmex trading which would help me a lot and save you some fees for a period
www.bitmex.com/register/Ci1A3v
I’ll try to keep you’ll updated the best I can
I’ll post some more charts on smaller timeframes soon!
Trade save all!