BTC/USD Bullflag and what i think the afterward price action
Hello,
If the price action keep persisting the bull momentum and the bull flag is in play... i think it will come into meet with a high resistance around 6k area and i think there will be a high possibility of retracement into support area provided by 200 EMA to test it's a valid support for continuation of bull momentum (around 5k) ; the reason for me is the all indicator i have beginning to shift into sell momentum..
please take this idea as a grain of salt as i do love to hear what your thought or chart.
peace...
If the price action keep persisting the bull momentum and the bull flag is in play... i think it will come into meet with a high resistance around 6k area and i think there will be a high possibility of retracement into support area provided by 200 EMA to test it's a valid support for continuation of bull momentum (around 5k) ; the reason for me is the all indicator i have beginning to shift into sell momentum..
please take this idea as a grain of salt as i do love to hear what your thought or chart.
peace...
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ouch my title is wrong.. i wrote Bull flag instead of bull pennant which is different thing.. my bad...
all though it could be a possibility case if the bullish momentum still kickin in.
all though it could be a possibility case if the bullish momentum still kickin in.
I forgot to mention that there's also resistance around 5.5k that act as support and resistance according to price action dated at october - november 2017.
if the bull flag pattern do happen.. it surely will breach that resistance and try to tease 6 k resistance..
:)