The consolidation flag may decide the future evolution of BTCUSD. Our scenario is bearish, short open interest is increasing suggesting a continuation of the dip. Targets are given in the chart, final target must be in the 5200 area, though a greater extension may be expected driving price towards 4900-5000usd zone.
Note
Resistance was broken, BTC is now at the top of the channel. A close in 4h above it could mean the start of a short term bullish trend, which would be confirmed over 6800usd.Trade closed: stop reached
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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.