FieryTrading

đŸ”„ Bitcoin From A Different Perspective: Bull-Flag?

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COINBASE:BTCUSD   Bitcoin
Sometimes I like to look at the charts in a different perspective to remove potential biases. When we invert the daily Bitcoin chart, we get a new chart that we can work with.

As seen on the chart, it seems that BTC is currently trading in a bear-flag pattern (which becomes a bull-flag when you make the chart normal again). This means that the most likely outcome is that the price will continue the current longer-term trend.

Furthermore, the blue diagonal resistance line seems like a very logical area to retest at some point in the future.

Seeing that we're currently still in the bear-flag, I'm quite certain that the trend will continue. As long as we're below the blue line, the bulls are fine.

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