Don't want to upset anyone, however the late market action has produced a Bear Flag Formation, which measuring to the downside would line up perfectly with the lower trend line and the 61.8% retracement. Give me your feedback, and watch your back.
Kommentar
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Chat room full of bears, bulls, and bull____. Bottom line is it appears price action will sort this out, all the way to support at the blue line between 4627 and 5400.
i hope it crashes down at 14500+-15200, i did mistake when i sell it at 13 600...and now i eat my knuckles )) and waiting for downift
tradersnest
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This pattern can become debunked if we can get above the resistance shown in my previous chart marked on this chart with small green arrows.
khahan
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So many time i saw this flag pattern in BTC, but its still going up. I don't know and not sure. Thank you for sharing.
Love u!
saiko1490
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@khahan, just be careful RSI indicates highly overbought levels..it COULD go up and maintain its high RSI level, but i am seeing mixed feelings about where bitcoin is headed. i'm hoping it crashes down so i can sell my other coins for some btc.
tradersnest
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@saiko1490, Rsi can stay overbought for some time, mostly it's for reading divergence. Get ready for a new trade. Follow.
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