$BTC LONG: Downtrend broken! Look for Bullflag at $65k
After breaking our series of lower highs we've pumped and are beginning to form a Bullflag @ the BTC:65K level. This gave us a clear technical entry and a nice RR, price target.
Medium Bullish take: We trade in this pattern through the week, let the momentum indicators rest and then retest the 70k price level by the end of the month.
To flip Bearish we would need to completely fade this pump and hold below the $60,000 neckline for 3-5days. I would be careful shorting any retracements, we look upwardly volatile.
PS. If you haven't already, check out my thesis on ANTI-FIATs....
https://www.tradingview.com/chart/GOLD/JcakqLxO-ANTI-FIATS-Bitcoin-GOLD-on-Track-for-Repeat-300-400/
Medium Bullish take: We trade in this pattern through the week, let the momentum indicators rest and then retest the 70k price level by the end of the month.
To flip Bearish we would need to completely fade this pump and hold below the $60,000 neckline for 3-5days. I would be careful shorting any retracements, we look upwardly volatile.
PS. If you haven't already, check out my thesis on ANTI-FIATs....
https://www.tradingview.com/chart/GOLD/JcakqLxO-ANTI-FIATS-Bitcoin-GOLD-on-Track-for-Repeat-300-400/
-dawson
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