BTC Sloping Flag?
Updated
The consolidation range BTC has been in since the big initial drop in May is starting to look a bit like a sloping flag as it is leaning slightly more in the same direction as the downward momentum. This might indicate seller exhaustion and an incoming reversal pump which if measured conservatively from these levels can take us back to the 60k region. Any thoughts?
If i were to take a long position, i would do so on the green support lines.
If i were to take a long position, i would do so on the green support lines.
Note
We have broken out of the channel we have been monitoring, and a short term pull back would be expected. However after that i would expect our scenario to continue to play out with additional upside to the 50-60k level in the coming weeks.
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