Market makers are using the uncertainty around the Powell meeting - even though we already know Powell won't make any drastic moves and is very dovish (and ultimately very bullish for BTC) - Market makers are using this fakeout to the downside right now to suck in as many shorts as possible before using them as a short squeeze in next 48 hours.
This bull flag is a continuation pattern of previous trend - which is up from $33k. Target is on the charge - near $46k.
Support for this analysis
The 5D DragonFly Doji candle printed on June 10th is one of the most statistically relevant factors right now and will have a significant upside impact on the current and subsequent 3-6 5D candles - this is where I draw support in that we are not entering a new downtrend and should give you conviction to buy here and set yourself up for the next leg higher.
This bull flag is a continuation pattern of previous trend - which is up from $33k. Target is on the charge - near $46k.
Support for this analysis
The 5D DragonFly Doji candle printed on June 10th is one of the most statistically relevant factors right now and will have a significant upside impact on the current and subsequent 3-6 5D candles - this is where I draw support in that we are not entering a new downtrend and should give you conviction to buy here and set yourself up for the next leg higher.
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