BTC Bull Flag - What to look for next
A look at some recent BTC impulse moves higher and subsequent price movement. I prefer bull flags that drift lower on lighter volume and then push higher on increased volume. However, ultimately the breakout volume and follow-through move is what's important. Box A is yesterday's move showing an ideal pullback level. Box B is the Dec 17th move which turned into a good multi-day run. Notice the volume. Box C is the failed breakout attempt in early January. How will this latest one turn out is yet to be seen but so far the volume signature is positive. Sitting tight for a another day will help cool off the technicals and let the EMAs catch up. After that, we'll want to see some volume on a push above 3700 and see prices hold above that level.
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.