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FX.co ★ BTC analysis for October 14,.2020 - Bull flag pattern on the 4H time-frame and potential for the rally towards $12.000

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Forex Analysis

2020-10-14T11:44:50
iconRelevance until2020-10-15

BTC analysis for October 14,.2020 - Bull flag pattern on the 4H time-frame and potential for the rally towards $12.000

Further Development

BTC analysis for October 14,.2020 - Bull flag pattern on the 4H time-frame and potential for the rally towards $12.000

Analyzing the current trading chart of BTC, I found that buyers are still in control and that there is the bull flag pattern in creation based on the 4H time-frame.

My advice is to watch for potential buying opportunities with the take profit at the price of $12,000

The main cause of the most recent upside cycle on BTC was the breakout of the contraction and symmetrical triangle in the background.

Resistance: $12,000

Support level: $11,30

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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