Bitcoin Update out of a bullish Flag // M15 PG and maybe the Trigger for Movement
Bitcoin an update from the correction
When is this correction over? New highs are needed by the bulls and this is being prepared as it looks. The flag formation has a bullish character and we are currently at the upper limit of this formation and this is where it will be decided how to proceed. Bitcoin is still far away from an important low in the market at the 43K mark. Should this break at some point, then larger profit-taking will probably set in. Therefore, it is important to defend this mark. However, the market is not showing any major weakness at the moment and therefore this mark is not an issue down there.
If we break the upper trend line of the flag, then the party can continue and new highs are likely. If we bounce, then the lower trend line is interesting.
A small M15 PG could perhaps initiate the movement. Only time will tell what happens next.
Source: (Guidants/Godmode Trader) & JFD Broker & Binance
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https://twitter.com/TraderOut/status/1376294119371333640
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