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Thanks to a fellow trader that pointed out this obvious bear flag, I begin to wonder if this will be confirmed or denied. Are we going to break through resistance or are we going to fail support. One way or another we have about 20 hours before the fireworks start.
If we fall through the bottom of this flag, we're going to see another deep dive and selfishly I am...
SYSBTC in my opinion became a buy on December 18th as it passed through EMA30 and all the way to EMA240 on the 1 Day chart. I got this information from another location but based on my own analysis, I am providing these modified targets.
SYS / BTC
BUY BETWEEN: .00006000 - .00006200
SELL TARGET 1: .00007100
SELL TARGET 2: .00008400
SELL TARGET 3: ...
This market is hard to analyze but I believe we are still bearish on BTCUSD for at least the next 1-2 weeks (coincidentally the Chinese New Year). If we do not break out, then this chart will be valid at least in the short term. Beyond 2 weeks on this chart is likely way off but I like to try and predict how a recovery will look. Post your comments below but...
There's a lot of arguments going on about whether BTC will go up or down based on the futures market closing tomorrow. It's either going to go up or down, but be prepared either way. This shows trend lines that extend further than the visible area.
Bitcoin is either going to dip down to $9000 (not $6500 like some are saying) or it's going to bounce up to about...