Bear Flag on Bitcoin

Mar 12, 2018

No pattern is certain. Tight stop-loss recommended if you're trading in this confusing environment.

All the best.

-SJ

Mar 13, 2018

Note

Right after the slump downwards from this pattern, BTC has begun a symmetrical triangle.

A continuation pattern, but for what trend?

I would assume bearish, since that's the short term trend, and it's a short term pennant.

but the buying volume is spiking higher than the selling volume as the triangle progresses...

leaving me to believe that there's a possibility of a bullish break. Also, the 1 day candle just came in as a perfect Doji. Reversal signal.

I'm scaling in on the dips. Stop-losses tight.

If there's an upside to this, I'd like to be around for it.

But mixed signals make me reluctant to risk too much capital.


Happy Trading.

-SJ