On today's edition of "Drawing Lines on a Chart", let's look at Bitcoin's narrowing range and the key support and resistance areas.
Bitcoin is currently forming a flag pattern as recent ranges begin to narrow. This pattern is typically broken decisively in one direction or the other. A move higher would require three 4 hour candles above 13,000 while a move lower would be confirmed with three 4 hour candles below 9,300.
Bitcoin is currently forming a flag pattern as recent ranges begin to narrow. This pattern is typically broken decisively in one direction or the other. A move higher would require three 4 hour candles above 13,000 while a move lower would be confirmed with three 4 hour candles below 9,300.
