BITCOIN - Wedge or bear flag?!
Updated
Hello everyone
As we see on the chart on daily timeframe BTCUSDT in between two levels of 41200$ and 39500$ (we had a bear spike in 4 hours time frame yesterday).
✔️If we consider this trading range the end of a wedge pattern in a clean breakout of the 41200 level we may see a retest of this level and have the price reach the next level 44000$.
❌ On the other hand, If we consider this a bear flag (or cup and handle) pattern on lower time frame(4 H maybe)the we may see the break of 39500$ and retest of the weekly trend line(the black line) which shows the higher lows on the market.
In my opinion ( not a financial suggestion) We may see the price goes higher.
As we see on the chart on daily timeframe BTCUSDT in between two levels of 41200$ and 39500$ (we had a bear spike in 4 hours time frame yesterday).
✔️If we consider this trading range the end of a wedge pattern in a clean breakout of the 41200 level we may see a retest of this level and have the price reach the next level 44000$.
❌ On the other hand, If we consider this a bear flag (or cup and handle) pattern on lower time frame(4 H maybe)the we may see the break of 39500$ and retest of the weekly trend line(the black line) which shows the higher lows on the market.
In my opinion ( not a financial suggestion) We may see the price goes higher.
Note
*BULL FLAGas of the mistake on title
AND
for the market move that we had on the market, I personally consider this a good move in the market with a good volume spike.
PS: waiting for the daily candle to make a solid decision.
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