Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
18 September
Video analysis:
Bitcoin could be forming another bullish pattern after the five week consolidation.
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.
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Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, who has been day trading since the late 1980’s. Jason has been a contributor of Traders Summit since the beginning. He primarily focuses on providing technical analysis of the financial markets, including stock chart patterns, Forex and Metals setups, and other useful technical analysis.
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Jason Sen, Director
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