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FLOW / TetherUS

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FLOWUSDT trade ideas

FLOWUSDT// Long OpportunityLooking at the price action, flow has caught quite a bounce. It was previously at the ATH then retested the broken resistance now support and then began to consolidate after which it started to form a descending triangle. After the drop from BTC on the 25th, Flow along with the other Alts followed suit and at this point a descending channel became validated in my opinion. I believe that most ALT coin move predictions can be aided using BTC.D. Currently BTC Dominance broke its ascending triangle to the downside and I expect a retest of the broken structure. A retest of that structure will mean that some Alts will move inversely. Looking at Flow currently, that inverse movement has some correlation to the completion of a move towards the bottom of the channel, testing the trendline and then continuing back up, thus creating a bull flag. I will post my analysis of BTC.D in the comment section. It is also possible that FLOW breaks this channel to the upside, seeing that $20 has proven to be strong support. This would likely result in a retest of the top of the channel and likely a test of each Fib Level, pushing to the ATH. Let me hear your thoughts!
Short
by N0ST0PL0SS
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