BTCUSD Flag
Bitcoin finds itself contained within a flag pattern.
Price has once again moved to the top of the flag, but shows indecision for further rise and is contained by the Monthly R1 Pivot....
Momentum is waning and the buyers may have reached their present limit , with the pair on the boundary of being overbought.
My bias is neutral going into next week = I want to see a decisive candle moving through or staying below the R1 pivot.....
If anything after moving off a base of 3000 , a long consolidation seems justified with this pair.....
Price has once again moved to the top of the flag, but shows indecision for further rise and is contained by the Monthly R1 Pivot....
Momentum is waning and the buyers may have reached their present limit , with the pair on the boundary of being overbought.
My bias is neutral going into next week = I want to see a decisive candle moving through or staying below the R1 pivot.....
If anything after moving off a base of 3000 , a long consolidation seems justified with this pair.....
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