BITCOIN: and now a “Bearish Flag”

BITCOIN: and now a “Bearish Flag”
December 12 21:50 2018

Short relieve, but not so powerful I thought…

BITCOIN has had a little move upwards but the volume didn’t change so much so, it seems it is not going to be sustainable at all.

At the hourly-chart, BTC is still building the last wave in its falling wedge, the 5th ((V) in red roman numbers).

Within this Fifth wave we can identify 3 subwaves and the 4th ongoing.

The fourth, which is still in formation, has been evolving as a “Bearish Flag” so, I think this is going to be the last tentative of moving upwards before the final drop…

At the chart I have traced as well a “Neckline” of a possible Head and Shoulder pattern which still reaffirms even more the necessity of a final fall..

 

Bear in mind that the target for landing is still around 2950 USD…in theory, because in practice only the Market God knows 🙂

@toofasteddie


*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

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About Article Author

toofasteddie
toofasteddie

Superconducting Engineer working for the development of the Fusion Energy, Dad, Crypto-Enthusiast and Runner addicted. I am in a "Continuous Learning Mode" as well I am always willing to share my knowledge about the fields and topics related with trading, Cryptocurrencies, Blockchain technologies and Sports, in particular Running and Athletics.

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