BTCUSD Adam and Adam Double Bottom with Handle/Flag on 8 hour
Bitcoin (BTC) has formed an Adam and Adam double bottom with a bull flag/handle on the breakout price. While this could form a sign of reversal, I tend to think that the shorts are now too low; overhead resistance appears quite strong. We're in a consolidation area, awaiting breakout in either direction. I tend to think we'll break DOWN; however, I cannot guarantee anything.
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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.