BitcoinUpdated Bull flag just under big resistants on BTC
On the 4 hour chart we can see that BTC just pinned bull flag.
Bull flag is just under the middle of downtrend channel, 300 EMA in purple (which is equal 50 EMA on daily chart) and top of inverse head and shoulders.
If this bull fleg materialize the target is 4341 which was support and resistance between August and October 2017 and November 2018. After that we want to se that BTC confirm the top of inverse head and shoulders pattern as a support.
Next target after that is top of the downtrend channel (but first we want to see that BTC confirm top of inverse head and shoulders as a support).
My ideas based on MagicPoopCannon's charts.
Bull flag is just under the middle of downtrend channel, 300 EMA in purple (which is equal 50 EMA on daily chart) and top of inverse head and shoulders.
If this bull fleg materialize the target is 4341 which was support and resistance between August and October 2017 and November 2018. After that we want to se that BTC confirm the top of inverse head and shoulders pattern as a support.
Next target after that is top of the downtrend channel (but first we want to see that BTC confirm top of inverse head and shoulders as a support).
My ideas based on MagicPoopCannon's charts.
Note
the flag is valid the price touched exactly top and bottom of flag!
i expect that brakeout will occur in few hours
Note
Brake out occured ;)Note
Now we want to see how the price responds to the top of the inverse head and shoulder level. If BTC superpass, the target is 4341 USD!Note
300 EMA ( 50 EMA on daily chart) act extremly resistant! Berlish sign
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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.