The Crypto Community was in full panic mode as #bitcoin was in near freefall after a massive bull run in early December 2017. A collective sigh of relief could be felt across the Twitterverse as Bitcoin bounced from a low of $6000 USD. Some seem to be looking ahead to the next ATH a little early with many Technical Analysts still warning of further drops as the bears continue to sharpen their claws and drool at further short profits.
I tend to think we will see a drop to a new low for 2018, with #bitcoin in the midst of the second bear flag in a row.
While not set in stone, I would be cautious until we see a break below the flag support, then shorting it the length of the pole, being cautious that it isn't a false breakout, especially with these continuation patterns.
Happy Trading
This is not financial advice, this is just an educational journal. Always do your own research and don't trust anyone else's opinions or advice. A great trader has to be himself and make his own judgements, otherwise, he will never trust his system and over the long run, he will fail. You have to survive long enough to make it, don't let someone else ruin it for you. Many are looking to make a buck from you, pump a coin/stock that they are involved with and worse looking to leave you with worthless bags as they ascond with your Equity.