BTCUSD

16 Eyl 2019

Let me explain my analysis.. Okay so, the zone at the bottom of the chart formed after a breakout from a bull flag (10064 - 10117). The continuation zone above that (10152.2 - 10199.9) was created shortly after, and constructed the swing high of the move. On the 1st touch of the zone price shot off and hit the diagonal resistance then a bull channel developed. However, I believe it was nothing more than a bull trap. After price broke free it formed a bear flag and ran right into resistance again (view price action: Hanging Man), engulfed smaller TF zones (yellow & red horizontal ray lines) then tanked. It ended up running right into the (bull flag formation) zone that was created from the start of the initial push.


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