🔥 Bitcoin On The Verge Of Losing The Bull Trend

16 авг. 2022 г.

Recently I made an analysis on Bitcoin and the reaction to the CPI. I wrote that, in case BTC managed to break out of the bear-flag, we'd likely see more upside in the coming weeks. Staying above the blue support line was of huge importance to keep the daily uptrend.

The bear-flag break out didn't occur, so BTC is still in a relatively neutral state and no trade has been initiated.

The current daily candle might take us below the bullish blue support line. We've still got the US stock market open in front of us, so obviously things can still change, but it's important to consider a bearish reversal.

If we lose the daily uptrend, I wouldn't be surprised if we'd go for a retest of the bear-flag's support. Keep a close eye on BTC, because a break out on either side is likely to happen within the next couple of days.

Patience is a virtue.