BTC forming a new bull flag or was it a dead cats bounce?
Wait for confirmation to trade.
Confirmation to the upside is a clear break of the trend line and the 61.8% Fibs.
A break down from flag trendline would indicate this last rally was a dead cats bounce and we will move lower. Only time will tell now where we will be headed.
Based off of the indicators BTC is actually recovering and this is a bull flag. It wont be long from now that BTC will break out fo the flag, but we must be very careful, its a risky trade.
Confirmation to the upside is a clear break of the trend line and the 61.8% Fibs.
A break down from flag trendline would indicate this last rally was a dead cats bounce and we will move lower. Only time will tell now where we will be headed.
Based off of the indicators BTC is actually recovering and this is a bull flag. It wont be long from now that BTC will break out fo the flag, but we must be very careful, its a risky trade.
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