Market makers are using the uncertainty around the Powell meeting - even though we already know Powell won't make any drastic moves and is very dovish (and ultimately very bullish for BTC) - Market makers are using this fakeout to the downside right now to suck in as many shorts as possible before using them as a short squeeze in next 48 hours.
This bull flag is a continuation pattern of previous trend - which is up from $33k. Target is on the charge - near $46k.
Support for this analysis
The 5D DragonFly Doji candle printed on June 10th is one of the most statistically relevant factors right now and will have a significant upside impact on the current and subsequent 3-6 5D candles - this is where I draw support in that we are not entering a new downtrend and should give you conviction to buy here and set yourself up for the next leg higher.
This bull flag is a continuation pattern of previous trend - which is up from $33k. Target is on the charge - near $46k.
Support for this analysis
The 5D DragonFly Doji candle printed on June 10th is one of the most statistically relevant factors right now and will have a significant upside impact on the current and subsequent 3-6 5D candles - this is where I draw support in that we are not entering a new downtrend and should give you conviction to buy here and set yourself up for the next leg higher.
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.
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.