KoosKanmar
@t_KoosKanmar
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KoosKanmar
It looks like a little but important bull flag building If it breaks will not only challenge the 200 days moving average, but also the upper support line of the larger channel @ 69k.
KoosKanmar
Yesterday BTC traded briefly in the $50k range. This presented a buying opportunity for the brave when buying strength returned to push it above $52500. Enough volatility to make your head spin, but this is the nature of the BTC beat. Resistance at $SWB:69K coming up.
KoosKanmar
Bitcoin has been consolidating in this range for 5 months. $70k remains the level to be broken. The upper resistance level has been tested multiple times. Let's hope for a break this time around.
KoosKanmar
Fake break OR support depending on your view on the 200 day moving average. Top of channel target - $70 000 I have a IBIT position (iShares Bitcoin Trust)
KoosKanmar
Bitcoin currently trading on the bottom of a defined channel and on the 200 day moving average support.Support should hold, but if it doesn't it could be a sign of more weakness to come.
KoosKanmar
Massive bear flag break with a $25 000 target. Nice round figure.$25400 - Close enough
KoosKanmar
After making a ATH in April Bitcoin has been moving on a downward slope.What could end up as a bear flag looks like it's building at the momentA break of that bear flag to the downside could target the $16 000 level again. This will equate to around a 40% dropCaution is advised on long trades if this flag breaks to the downside
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