Mini Bear Flag on Bitcoin
Updated
Hello friends! Bitbotly here with another analysis of Bitcoin, our favorite shit-coin
As we can see, Bitcoin broke out of support and fell a lot.
Bouncing against support we can see a lot of nervous hands that starts to show, and with a smaller range, the pressure is building up which will lead to an increase in volatility.
What we expect to see now is another fall, caused by the mini bear flag (marked in pink) breaking to the downside
As always, we wait for confirmation before committing to any one trade
But how far is Bitcoin going to fall??
Great question, we know from historical bear flags that they typically fall it's own height once the breakout is confirmed.
we can expect to see a fall of at least a couple of percent, netting a good profit with margin trading and 100% capital @ risk
I hope you have a great trading day!
Follow us for more spot-on analysis
As we can see, Bitcoin broke out of support and fell a lot.
Bouncing against support we can see a lot of nervous hands that starts to show, and with a smaller range, the pressure is building up which will lead to an increase in volatility.
What we expect to see now is another fall, caused by the mini bear flag (marked in pink) breaking to the downside
As always, we wait for confirmation before committing to any one trade
But how far is Bitcoin going to fall??
Great question, we know from historical bear flags that they typically fall it's own height once the breakout is confirmed.
we can expect to see a fall of at least a couple of percent, netting a good profit with margin trading and 100% capital @ risk
I hope you have a great trading day!
Follow us for more spot-on analysis
Note
Bitcoins show some weakness but this might be a break to the upside that we are currently watching!
Note
We have an update here!
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