BTC/USD 1M. Moving in ascending channel. Potential bullish flag.
BTC/USD on monthly chart is moving in ascending channel.
Right now we have a range moving.
Potentiall bullish flag is forming(if we hold the lower bound of current range ~27000$).
Bullish flag confirms only if support on 27000$ holds and we break out of it to the upper side.
The impulse of this flag is about 500%. If this flag works out - it's target is the resistance of monthly channel ~ 400.000$.
We close the monthly candle below the current support at about 43800$. So now the bias is bearish.
The nearest support is about 35k. It's our nearest objective. If we break below this support - the nearest support is the support of ascending monthly channel ~27000$.
Near this area we also have EMA100, which on that time will be somewhere around there.
However, there lot's of liquidity below this area(27000$), so we can fall below this zone to collect this liquidity(stops, liquidations).
If we fall out of ascending channel, our nearest support is about 14k$.
Right now we have a range moving.
Potentiall bullish flag is forming(if we hold the lower bound of current range ~27000$).
Bullish flag confirms only if support on 27000$ holds and we break out of it to the upper side.
The impulse of this flag is about 500%. If this flag works out - it's target is the resistance of monthly channel ~ 400.000$.
We close the monthly candle below the current support at about 43800$. So now the bias is bearish.
The nearest support is about 35k. It's our nearest objective. If we break below this support - the nearest support is the support of ascending monthly channel ~27000$.
Near this area we also have EMA100, which on that time will be somewhere around there.
However, there lot's of liquidity below this area(27000$), so we can fall below this zone to collect this liquidity(stops, liquidations).
If we fall out of ascending channel, our nearest support is about 14k$.
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