BTC- Three pointer just around the corner.
Hello cryptohounds, BTC cannot shake off the bear market, and has been rejected at every opportunity. This is a clear signal, make no mistake. Just like the traditional stocks , there is no easy money in this game. Where to from here? There is a simple and clear answer. There is the yellow bull flag with a flagpole consisting of the run up to the all time high. BTC has been near the apex for the last week and consistently followed the upper trendline down. The pattern is consistent enough to see that price has been constrained inside this triangle for a long time and any break will be violent. On the downside the support is at $6000 and a two candle close on the high charts below this level will be momentum of further falls to the next support at $4400. A break now (less probable) is better to bounce off the bottom 6k and then burst through the stubborn upper trend line to a bullish reversal. We shall see which of the 2 options takes shape.
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*Please like or follow if you are happy with this TA.
*Each individual trading position is unique and this information should not be used to formulate any type trading plan.
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