Time to go long! BTC bull flag and triangle!

16 ago 2018

If you didn't buy at or near the bottom like I did (6180 last Friday), then now is the time! There has been tons of support at the 6280 level over the last 8 days (green arrows), but also tons of resistance at the .786 fib level of 6475 (red arrows). Previously, whales would put on the squeeze (seen by looking at the huge volume spikes over 1-2 bars), but eventually the price would still end up between 6280 and 6480. But on this 2-hr chart, today has shown low volumes and a complacency to keep the price within these bounds. However, the price action is showing a bull flag with a triangle forming that looks like within the next 4 hours, the bulls should push this up to the next level. My first target is at the red line at 6650, which we bounced off yesterday. But I think we will go through that and get to the bottom of the next resistance zone at 6850-6950 by tonight.

By the way, this may sound like buying advice, but it's not. Do your own research!

Have a Great Day!