Here is why Bitcoin will Confirm the Bull-Flag a Second Time!

2020年2月28日

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Hello dear friends and cryptocurrency enthusiasts, today I am looking at the daily bitcoin chart. This analysis will be my logical follow up to past observations.
As I already published Ideas on the subject according to bitcoins price movement in the bull-flag and the break-out with confirmation of the bull-flag, which already happened.
If you want to have a full overview according to the recent formation and price movement I strongly recommend that you check out the charts already published.
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This analysis is the logical follow up to the charts you can watch below:

Where I called the real or fake bull-flag:

Where I called the bull-flag confirmation and the higher high which developed:

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So now we can jump to the formation building up in recent days, as you can see in my chart bitcoin formed a higher high at 10470, exactly the are where I predicted the higher high
in the recent analysis, now as expected we get some down movement which is quite strong but as you can see in my charts we have a healthy support are at the bull-flag upper line.

The upper line of the bull-flag channel is not the only support we are facing in the structure, we have also good support at the 78.6 % fibonacci ratio and the support level of the recent
up-trend.

You can see it here:

Support/Resistance:

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As bitcoin has great support in the are between 7300 and 7600 I see a high probability that we confirm this are as support in the futrue. After the confirmation we can expect some up-
moves to higher levels. I will look for a good and decent LONG entry in the support area, for now a SHORT trade on the shorter time frame is possible but it would be wise until the
bulls provided a decent pull-back.

Now it is waiting time, I see a high probability that bitcoin confirms minimum a second time, as described in my chart, the big bullish bull-flag which theoretically already confirmed.
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Thank you my friends and crpyto currency enthusiasts! If you found this analysis profitfull feel free to subscribe my channel and give a like for more market insight!
“In order to succeed, you first have to be willing to experience striving.” I stand for this quote in the name of my analysis!
It is friday so have a nice weekend my friends! ;)
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2020年2月28日

註釋

Information provided is only educational and should not be used to take action in the markets.