BTC as been respecting these lines particularly well. I know there are a few structures going around TV including a broadening wedge but these lines support a straight forward bull flag.
Highlighted green looks like a stop hunt and test for support before breaking above the downward resistance line. Price action here looks bullish with limited downward resistance during the break up.
- X marks the entry point for longs - break of the local resistance line (blue line), retest and entry on resumption for best probability (as I understand it).
---- No guarantee this one at $56k resumes off this retest but looking promising. A breakdown would be mid-term bearish for me.
Best, HF
Commentaire:
following the failed resumption BTC attempting to break back into the channel - $55,700 looks like it is the apex
Resumption failed and the market broke downwards