BTC falls below the 10k support line and closer to short target

2019년 8월 22일

We are looking to make a pickup at the 9k-9.4k where there is suggested support for a decent bounce.

The bearish flag pattern that we got on BTC earlier lets us know this by simply revealing the flag pole. Trading rules state that when a flag formation plays out the price action follows the previous price action of the pole.

Based off of this simple fact alone we can see a retrace to 9k-9.4k area. I have also pointed out 3 places that support my analysis as previous spots the price bounced.

Not trading advice just an analysis.

2019년 8월 22일

노트

BTC is trying to crack the upper channel of this pending bear flag on the 15m chart.

It seems we might be able to open our short position early. We will find out soon.

If we can close a quarter hour candle above the channel I will buy 50% of my position at this point with a stop loss at the bottome of the previous bear flag.

2019년 8월 22일

노트

BTC failed at breaking out of the bear flag and found its way back in. Expecting a drop further. The trend is becoming more and more bearish as bulls are seen no where stepping in.