Bitcoin to 68k - Bull flag
Updated
** short term analysis - daily chart **
24 days have passed since RSI entered a downtrend channel. The channel resistance has now printed a breakout at the same time as price action from its resistance.
A bull flag print has now confirmed with the downtrend in price action. A measured move takes price action to the 68k area by the end of the month.
Is it possible price action continues to correct? Sure.
Is it probable? No
Ww
24 days have passed since RSI entered a downtrend channel. The channel resistance has now printed a breakout at the same time as price action from its resistance.
A bull flag print has now confirmed with the downtrend in price action. A measured move takes price action to the 68k area by the end of the month.
Is it possible price action continues to correct? Sure.
Is it probable? No
Ww
Note
Trade active from 57.3k or under.Trade active
No stopping it now.
The next big observation to make is what happens if this target is achieved by August 26th.
If the target is achieved by this date, you're going to see something amazing in the weeks ahead.
Note
Price action drops to back text the flag
Note
If a candle body closes under 57k, the idea is void.
If a candle body closes under 62k by September 2nd, the bull market is likely over for Bitcoin for a year to 18 months. This does not automatically include alt tokens.
Note
Many messages since last update. Let me repeat, do you wake up and see candles on the daily chart close under 57k ?
If so, the idea is then void. Structure broken. Not possible to be long. In fact there is another flag printing at this time, can you see it?
For the moment this flag remains valid for as long as price action close above 57k on the daily chart for a number of days.
Note
Looks like this flag tops out around 71k. This will be the 7th time 71k resistance is tested.
Trade closed: target reached
On August 5th someone somewhere managed to sell Bitcoin at 
49K
youtu.be/9eMrjtNDuvw?t=1
Note
PS: Notice price action is now at the flag extension.
Is this moment to go long or short?
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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