The bearish flag is a popular trading pattern that typically signals the continuation of a downtrend. Failing to record any lasting uptrend, the Bitcoin price gets trapped within two parallel trend lines, with bears being determined to push the price lower. However, it is worth noting that this pattern is far from being infallible: a sudden change in the price trend could invalidate it. If the consolidation phase continues for way too long, sellers might end up running out of momentum. In such a case, the bulls would be able to resume the uptrend. According to popular cryptocurrency trader Scott Melker, there has been a confirmed bullish divergence on the four-hour chart of the largest cryptocurrency. This might signal that buyers are finally ready to step in. Once again, the easiest signal to find bounces and at least local bottoms. Still, according to Stanley, there is some hope for the bulls
The bearish flag is a popular trading pattern that typically signals the continuation of a downtrend. Failing to record any lasting uptrend, the Bitcoin price gets trapped within two parallel trend lines, with bears being determined to push the price lower. However, it is worth noting that this pattern is far from being infallible: a sudden change in the price trend could invalidate it. If the consolidation phase continues for way too long, sellers might end up running out of momentum.
In such a case, the bulls would be able to resume the uptrend. According to popular cryptocurrency trader Scott Melker, there has been a confirmed bullish divergence on the four-hour chart of the largest cryptocurrency. This might signal that buyers are finally ready to step in. Once again, the easiest signal to find bounces and at least local bottoms. Still, according to Stanley, there is some hope for the bull
Bitcoin Price Bullish Divergence Downtrend Uptrend Trading Pattern
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