This is not looking good for bitcoin, at the moment as we are forming bear flag on the intra day. This pattern is inherently bearish and means that price will likely continue down.
One thing that I am noticing on other coins is a similar pattern, but instead of breaking downwards they are reversing up. This is something that I will be watching over the next few hrs.
If there is a case that we end up dropping down the initial target price to short is around$16900 with our first target being $16000-16500 region and our final target al the way down at $14000.
In the bullish case our entry would be at $17500 with the first target at $18500 and our final target around $20000.
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*This information is not trading advice and is to be used for educational purposes only!
One thing that I am noticing on other coins is a similar pattern, but instead of breaking downwards they are reversing up. This is something that I will be watching over the next few hrs.
If there is a case that we end up dropping down the initial target price to short is around$16900 with our first target being $16000-16500 region and our final target al the way down at $14000.
In the bullish case our entry would be at $17500 with the first target at $18500 and our final target around $20000.
Thanks for reading!
If You like this TA please hit the LIKE button!
Also, leave a comment with Your thoughts and feedback!
*This information is not trading advice and is to be used for educational purposes only!
Comment:
We have beautifully entered the bullish buy zone!