I dont think that this bull flag works. During 5th and 9th of JAN we saw the same bull flag and then price dumped. But this isnt only reason of upcoming drop.
Check out margin positions ratio, LONGS are dominating.
After the recent pump BTC reached target of the falling wedge. Some of traders show on their graphs that target will be at around 4150$ but this looks so unreal and if we properly count the target by the wedge we could see that max target was at 3800$ which was reached already.
For now I think we might see some fake breakout till 3850$ and then we will see not fake drop.
I will put limit short order at 3720$ (Bitmex) and in case if price starts ascend to 3900$ then will average it at 4000$, anyway I dont think that I will make any avergings.
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Check out margin positions ratio, LONGS are dominating.
After the recent pump BTC reached target of the falling wedge. Some of traders show on their graphs that target will be at around 4150$ but this looks so unreal and if we properly count the target by the wedge we could see that max target was at 3800$ which was reached already.
For now I think we might see some fake breakout till 3850$ and then we will see not fake drop.
I will put limit short order at 3720$ (Bitmex) and in case if price starts ascend to 3900$ then will average it at 4000$, anyway I dont think that I will make any avergings.
Thumbs up if you like the post.