bitcoin has found support on the 200SMA as I have pointed out previously many, many times. Now that we have found support here and a nice bounce we are consolidating right over head our MA and forming a nice bull flag that is starting to break out.
SHORT TERM:
The purple line indicates the most likely path from here.
The orange line indicates the path back towards support should we double top and get rejected again.
The green line indicates if we should bust out of the ceiling, it will consolidate there and then we will see another bull flag carry us above the new floor.
SHORT TERM:
The purple line indicates the most likely path from here.
The orange line indicates the path back towards support should we double top and get rejected again.
The green line indicates if we should bust out of the ceiling, it will consolidate there and then we will see another bull flag carry us above the new floor.