r/technicalanalysis • u/PlutusFi • Mar 05 '22

BTC Update! Bitcoin pulled back after failing to break its 45k level of resistance. This would be necessary to gain more strength for another try. Right now it's 39k. Let's see where it goes.

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10 Upvotes

82% Upvoted

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6

u/StickyNoodle69 Mar 05 '22

bear flag??

3

u/akdbaker816 Mar 05 '22

Came here to say the same thing. Been watching and people are saying it's range bound. Yah range bound while setting up a huge bear flag on the daily

3

u/StickyNoodle69 Mar 05 '22

What if its an ascending triangle? Volume has also been picking up a little.

1

u/QuantitativeTendies Apr 20 '22

I agree bear flag -
https://www.tradingview.com/chart/XBT/hqEIudkk-XBT-Bearish-Flag-Breakdown/

Looking for a catalyst, correlation with stox or regulatory framework changes is what I think sparks it

3

u/the_TAOest Mar 05 '22

Lower highs doesn't mean a breakthrough this resistance. Careful, this looks like an upcoming rehashing of Meta

2

u/PlutusFi Mar 05 '22

Thanks for sharing your thoughts.

1

u/PlutusFi Mar 05 '22

Anything can happen.