After it’s -18% drop, Bitcoin has stayed within a tight range of play. Last week, Bitcoin saw a less than -1% move, and Friday, only a tiny -0.08% close. Sunday’s close saw a +2.68% pop up above our shorter-term Bull Flag. We may see Bitcoin bounce between $8,180 and $8,300 before its continuation up to $8,600.
However, on the flip side if we see an aggressive down Bitcoin may print orders to a downside of $7000. The current 4hour pattern is a Bearish Flag which may complete.
THE PLAY: We are long above $8,300 close.
However, on the flip side if we see an aggressive down Bitcoin may print orders to a downside of $7000. The current 4hour pattern is a Bearish Flag which may complete.
THE PLAY: We are long above $8,300 close.