BlackbearTrader

Bitcoin flag pattern?

BITFINEX:BTCUSD   Bitcoin
Bitcoin has been decreasing from its high a couple of weeks ago. Now, we see a hammer candlestick forming, this means the prior trend could be reversing- it also a bullish signal. This is supported by the RSI being overbought. However, the ADX is expanding, the Coppock curve has broken prior support and is falling. This means there could be a short-term fall before a rise. The price may fall to prior support before rising again.
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