Bear flag or Bart
Possible bear flag or Bart...
It looks like btc is going to drop the next flag pole down.. this could happen when btc close a daily candle below the pink line.. best for the bears would be a close below 8k on daily I have 2 targets... near the 0.618 fib at 7200ish or might drop lower towards 6k what always have been a decent support...
If close above the pink line at 8.3k preferably above 8430 above the 200MA daily this could trigger a Bart back up.. targets between 9.1k and 9.5k
I have opened a short as btc looks to be in an descending channel... got an avarage position at 8140.. Stops are in profit in case bulls are able to get a daily/weekly close above 8k-8050
I am staying neutral until we have an conformations!!
It looks like btc is going to drop the next flag pole down.. this could happen when btc close a daily candle below the pink line.. best for the bears would be a close below 8k on daily I have 2 targets... near the 0.618 fib at 7200ish or might drop lower towards 6k what always have been a decent support...
If close above the pink line at 8.3k preferably above 8430 above the 200MA daily this could trigger a Bart back up.. targets between 9.1k and 9.5k
I have opened a short as btc looks to be in an descending channel... got an avarage position at 8140.. Stops are in profit in case bulls are able to get a daily/weekly close above 8k-8050
I am staying neutral until we have an conformations!!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.