- BTC is currently forming an uptrend channel or possible bear flag.
- BTC got rejected from the channel middle line.
- On Close above the middle line and you can look for long position and targeting flag resistance line which is around 8200-8400 (depends on how the impulsive move we get).
- I am not playing any short positions here will wait for the rejection...
- Currently Bitcoin is forming Bull Flag this could be possible Wave B of correction move or this can be Wave 4.
- Either its Wave B or Wave 4 there going to be one more leg upside.
- Target for this move is marked over the Charts.
- Each FIB level is profit booking zone.
- Forming Triangle on 1 HR Timeframe.
- This could be wave 4 triangle.
- Wave 5 targets marked over the charts.
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