) was forming a Bull flag. Well, like it or not, the cryptocurrency is still in it and has failed to clear the last hurdle -the upper trendline of the flag; see Figure 1 below- twice now., are still possible. As the Bull-Bear battle rages on, we must remain patient until we get a resolution. Allow us to explain below.
But the Bulls may have failed again, with the crypto’s price now below its 10-day, 20-day, and 50-day Simple Moving Average and toying with the lower edge of the Ichimoku Cloud . If the Bulls can keep the price of BTC/USD within the grey target zone of the potential W-ii, rally price back above the SMAs, and then back above the upper trendline of the Bull flag, we will have a strong signal the crypto is ready to provide us with five waves up per the green path.
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