logo

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

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

See also: InstaForex is one of the leaders in the Forex market, 12 years on the market, more than 7,000,000 active clients

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
Go to the articles list Go to this author's articles Open trading account