Bitcoin is hanging on for dear life
Frustratingly BTC has forced me to readjust my lines of support and resistance again because of meandering out without any increase in volume. This happens a lot due to volatility of the asset. If support or resistance lines ignore wicks for most of the pattern it will suddenly move to take them into consideration towards the end to make you think it is a breakout. The key is to watch the volume change.
You cant make this confluence up. The target for the descending triangle it already broke out of is the same as the target for the current bear flag pattern if it breaks lower immediately after re-testing the longer-term resistance. Im still bearish unless it breaks through long-term resistance with heavy volume.
You cant make this confluence up. The target for the descending triangle it already broke out of is the same as the target for the current bear flag pattern if it breaks lower immediately after re-testing the longer-term resistance. Im still bearish unless it breaks through long-term resistance with heavy volume.
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