{"id":384133,"date":"2019-05-29T08:30:35","date_gmt":"2019-05-29T08:30:35","guid":{"rendered":"https:\/\/wncen.com\/?p=384133"},"modified":"2019-05-29T06:46:07","modified_gmt":"2019-05-29T06:46:07","slug":"bitcoin-bull-flag-flying-but-30-percent-pullback-still-expected","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-bull-flag-flying-but-30-percent-pullback-still-expected\/","title":{"rendered":"Bitcoin Bull Flag Flying But 30 Percent Pullback Still Expected"},"content":{"rendered":"
Since its third major surge of the now two month old Bitcoin rally, the king of crypto has held on to all of its gains<\/a>. Support and resistance zones have shifted to new higher levels and the chart, when zoomed out, looks unnaturally parabolic, remnant of the December 2017 one.<\/p>\n A descending channel has started to form for BTC over the past 24 hours. From a high of around $8,800 it has fallen steadily down to $8,550. Daily volume has trailed from $27 billion to $23 billion as the king of crypto cools off.<\/p>\n The bull flag pattern has been labeled as the almost vertical pump in Bitcoin price resembles the pole and the subsequent consolidation is the flag. Crypto trader \u2018CryptoFibonacci\u2019 has been looking at the two hour chart;<\/p>\n \u201cNice bull flag and also still holding above the old resistance\/new support line too.\u201d<\/p><\/blockquote>\n $BTC<\/a> 2 hour Chart.<\/p>\n Nice bull flag and also still holding above the old resistance\/new support line too.#BTC<\/a> pic.twitter.com\/ltoGAgNlQH<\/a><\/p>\n — CryptoFibonacci (@CryptoFib) May 28, 2019<\/a><\/p><\/blockquote>\nBitcoin Bull Flag<\/h2>\n
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