BTC in 200days now Consolidating and Now Finalizing BULLISH FLAG
Simply market structure study on why the bears absolutely must make a stand right here...
BTC has been in a HTF downtrend for over 200 days. The red dots clearly outline the bleeding structure of lower highs & higher lows that have plagued crypto since March.
The September 6th bottom is very significant because it is POTENTIALLY the first HTF higher low in 6 months... but the jobs not finish.
In order to be in a confirmed uptrend, #Bitcoin needs to get above 65k. If bears can't protect that high, then #BTC will have had a confirmed market structure break to the upside... this breaks the 200 day downtrend.
A lot of altcoin charts are looking big time bottomed. If bears can't defend 65k, crypto likely rips higher in the coming weeks.
BTC has been in a HTF downtrend for over 200 days. The red dots clearly outline the bleeding structure of lower highs & higher lows that have plagued crypto since March. The September 6th bottom is very significant because it is POTENTIALLY the first HTF higher low in 6 months... but the jobs not finish.
In order to be in a confirmed uptrend, #Bitcoin needs to get above 65k. If bears can't protect that high, then #BTC will have had a confirmed market structure break to the upside... this breaks the 200 day downtrend.
A lot of altcoin charts are looking big time bottomed. If bears can't defend 65k, crypto likely rips higher in the coming weeks.
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