BTC- 13/03/2019

Good evening, wanted to share some quick technical analysis regarding BTC's price action as of recent.

Below is a basic outline of the two directions possible for BTC, surprisingly enough it could be up or down. I have a bullflag drawn out in the pink lines and you could describe it as a channel which BTC has been following. If it was to break this channel to the upside I expect FOMO to kick in and momentum to gain relatively fast to test the upper $5000, maybe even $6000 level. However, if BTC is to be rejected once again by the trendline of the bull flag, it could mean we could see panic and fear of new lows which could cause a waterfall price action to the downside. I would expect this to stop somewhere inbetween the $2,000 to $1,000 level, i see strong support and this would also be a retest of the highs in the previous bear market.

OR it will go sideways, retest the low and hold, and then have a dry boring low volatile accumulation phase in which will be an excellent time to buy, stay safe trading out there. Upvotes and follows are greatly appreciated, thankyou for taking your time to read my analysis.

==============================================================
Disclaimer: I am not a financial advisor and any of my content should not be taken as financial advice. The information and content provided is purely my own thoughts and intended for informational and entertainment purposes only. This is not investment advice. If you want to invest you should consider consulting with a professional beforehand.