BTC price did break new created bullish flag pattern on the 4H time-frame and confirmed the rejection of the lower diagonal of the upward channel. Watch for buying opportunities.
Orange rectangle – Resistance level, which became support
Purple rectangle - major short-term resistance
The bearish correction is completed in our view since the orange supply trendline got broken. The smaller bullish flag pattern did create just after the breakout of the support, which is sign for the further near-term upward movement. BTC Is still trading inside of the upward channel and BTC is expected to trade towards the resistance levels at $5.673 and $5.902. Support levels are seen at the price of $5.530 and $5.340.
