Bear Flag Forming!

23 maj 2018

During a Bear Flag, volume diminishes during the pause and then rapidly expands on the continuation. We've seen diminishing volume during the Bear Flag zone. I have charted out a primary degree zig zag pattern which would make up BTC's cycle degree wave 2, continuing for the remainder of 2018. The bear flag shows an ABC corrective pattern. It will take us up to the 11500 - 11700 USD whose resistance point range has been long anticipated by many.

I have a landing zone in the area of 2300 - 4300 USD which is between the .786 and .886

24 maj 2018

Uwaga

looking at the 30 minute daily chart, BTC weaved an ascending triangle pattern around the bottom of the bear flag support line for a few hours, broke upwards out of the triangle, but then dropped down to the bottom support line of the large symmetrical triangle that started 5 months ago. It’s now in an ascending wedge, from which it will break downward from before it gets back above the bear flag bottom resistance line.

The longer it stays below the bear flag resistance line the higher probability the bear flag has been invalidated. However the symmetrical triangle is being further validated. The apex of the triangle is late July. We will need to pay attention to see if we think it will break upwards or downwards out of the triangle.