BTC Trendlines I'm Watching
Bullish View
The entire correction we are going through might have just been a bull flag outlined in orange. Anywhere along the lower trend lines of the green/orange/yellow shapes could be a good place to establish a long position.
Bearish View
We break below the consolidation range in late 2018, might test the 5k range or even wick at 3k to make a giant descending triangle, which makes the 2019 "bull market" a bear flag. However, for now, it's difficult to find a favorable location to establish a short position before any of these start to pan out.
Meanwhile, have a good time trading in the established ranges. Cheers.
The entire correction we are going through might have just been a bull flag outlined in orange. Anywhere along the lower trend lines of the green/orange/yellow shapes could be a good place to establish a long position.
Bearish View
We break below the consolidation range in late 2018, might test the 5k range or even wick at 3k to make a giant descending triangle, which makes the 2019 "bull market" a bear flag. However, for now, it's difficult to find a favorable location to establish a short position before any of these start to pan out.
Meanwhile, have a good time trading in the established ranges. Cheers.
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