Dear friends. Here is my question: Is this Flag a bearish trend continuation pattern? Will the price of Bitcoin soon drop to 5568?
What is your interpretation of this pattern?
The red dashed line is an important line. Above this red line, a beautiful bullish scenario is waiting which will promise Bitcoin prices of 22500, 24000 and higher.
However, as long as the price of the Bitcoin will remain below this important red dashed line, the bearish scenario will still be valid and the target is 5568.
Please add your opinion about the pattern with the black circle around. I am looking foreward to your interpretations.
This is a link to the predecessor of this idea:
What is your interpretation of this pattern?
The red dashed line is an important line. Above this red line, a beautiful bullish scenario is waiting which will promise Bitcoin prices of 22500, 24000 and higher.
However, as long as the price of the Bitcoin will remain below this important red dashed line, the bearish scenario will still be valid and the target is 5568.
Please add your opinion about the pattern with the black circle around. I am looking foreward to your interpretations.
This is a link to the predecessor of this idea:
Comment:
I zoomed into the trend continuation pattern, right after reaching a new high in the ongoing consolidation. The whole price-movement is on very low volumes. As we can see on the below chart, this upmove that spread so much hope among the Bulls, is almost not recogizable on the chart and the trend continuation pattern is still intact. The bear-trend is still active.
Comment:
I zoomed into the chart. The chart below shows the current fight between Bulls and Bears on the red dashed line at 12787. Above the line is a promising bullish scenario waiting. Below the line, the bearish scenario remains active and the target is 5568.