We fell out the bear flag, successful short, however that leg is finished for now having a solid bounce from 0.53ish
The next move is around this pennant
We either break upwards which could send us to re-test the most recent high of 0.80, or we fall out the bottom and create a huge descending triangle with the major level 0.46 as the bottom line
A pretty simple short trade has come up in my opinion, this breakout from the marked blue consolidation zone has got us above 75 RSI points on the 15m and 1h chart, and as you can see we are far extended above the 15m Kumo Cloud (which consistently acts as a price action magnet)
Looking for at least a 1% drop down from USD 9050
Bitcoin is playing "bad ass". With a good repeating pattern breakout or volume gives a clear signal. Could have done with a lower fractal low - didn't get it. Could have broken upwards on break of downward diagonal trend lines - didn't get it. Currently Bitcoin looks like just waiting to break higher. I've added a study of the first day of the month volatility...
Just thought I would use some of what I'm following to see how they worked last time. Interesting Y/N. I think I'll drop one idea which was trying to predict timing of fractal lows by multiplying distance between fractals by three. NOT ADVICE ALL STANDARD DISCLAIMERS APPLY.