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Bitcoin bull flag could be a buy signal [Video]

Bitcoin bull flag could be a buy signal [Video]
Jason SenJason SenDayTradeIdeas.co.uk

Bitcoin could be forming another bullish pattern after the five-week consolidation.

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This looks like a bull flag, so we need a break above the upper descending trend line to trigger the buy signal.

Today that level is around $78,500 but the level declines by about $500 per day.

So over the weekend,  a break above 78,000 should trigger the buy signal.

The lower trend line to the flag pattern is around 74,500, so a break below 74,000 would be a more negative signal.

BTC

Author

Jason Sen

Jason Sen

DayTradeIdeas.co.uk

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens.

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