BTC - A Textbook Bear Flag
Updated
It looks almost too perfect to be true, but here we are. Volume is dead again, which signals imminent breakout anyways.
We already had one, but bulls didn't make it, and the price got back into the range, where it belongs.
Now we wait for downwards channel breakout with good volume. 1:1 measured move is a strong possibility, so BTC could fall as far as 3530 or so.
We recommend, as with most breakouts, to use Trailing Stop for exit and wait for decent volume to enter the trade.
Thanks for tuning it, comments and likes are appreciated!
We already had one, but bulls didn't make it, and the price got back into the range, where it belongs.
Now we wait for downwards channel breakout with good volume. 1:1 measured move is a strong possibility, so BTC could fall as far as 3530 or so.
We recommend, as with most breakouts, to use Trailing Stop for exit and wait for decent volume to enter the trade.
Thanks for tuning it, comments and likes are appreciated!
Order cancelled
Entry order did not trigger, and the price went the other way. We'll be back the next time!
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