I zoomed out 6 months and I've been noticing these two large bull flags that have been forming since as far back as the chart goes back (2014/2015).
If the pattern plays out, then bull flag 1 is currently active and bull flag 2 is waiting to breakout. The two bull flags create a very high target zone (200K +).
If bull flag 2 breaks down, then we have the top of bull flag 1 to be support. We could also just wick down (scare the crap out of everyone) and then close above the bottom of bull flag 2.
I have no idea how this is going to play out. However...
1 We are in an uptrend. The trend is your friend until the end
2 There are two large bull flag patterns (one is active)
3 We are at the support of bull flag 2
4 A retrace to the top of bull flag 1 would be normal market behavior and would be going to test the breakout of a former resistance area (even though it will scare the crap out of everyone and people will say BTC is going to zero).
What do you think?
If the pattern plays out, then bull flag 1 is currently active and bull flag 2 is waiting to breakout. The two bull flags create a very high target zone (200K +).
If bull flag 2 breaks down, then we have the top of bull flag 1 to be support. We could also just wick down (scare the crap out of everyone) and then close above the bottom of bull flag 2.
I have no idea how this is going to play out. However...
1 We are in an uptrend. The trend is your friend until the end
2 There are two large bull flag patterns (one is active)
3 We are at the support of bull flag 2
4 A retrace to the top of bull flag 1 would be normal market behavior and would be going to test the breakout of a former resistance area (even though it will scare the crap out of everyone and people will say BTC is going to zero).
What do you think?