๐ฅ Bitcoin Short-Term Bear-Flag Breaking Out
Over the last couple of days, BTC has been slightly trading bullish. This is often the case after a major drop like we saw last week.
In my view, BTC is currently trading inside a short-term bear-flag pattern and is on the verge of breaking out bearish.
Not that the two purple lines are direct copies of the bottom yellow support line, only anchored on different locations.
A break out through the yellow support would be the confirmation I'd wait for. More aggressive traders will look for a break of the bottom purple support. Be patient.
Targets in blue placed at recent lows.
In my view, BTC is currently trading inside a short-term bear-flag pattern and is on the verge of breaking out bearish.
Not that the two purple lines are direct copies of the bottom yellow support line, only anchored on different locations.
A break out through the yellow support would be the confirmation I'd wait for. More aggressive traders will look for a break of the bottom purple support. Be patient.
Targets in blue placed at recent lows.
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