
The💎₿itcoin⚡️Haw@iian🌴™
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The💎₿itcoin⚡️Haw@iian🌴™
@BitcoinHawaiian
Defending #Truth & Perpetuating Righteousness #Bitcoin Since 2013 | Educator💡| Likes RTs & Follows ≠ Endorsements #JesusChristIsLord 🙏 #Nostr 👇🏽#aloha 🤙🏽


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$BTC daily *If* the previous swing low of $65K gives out, then look for a retest of the lows near $61K. Why $61K? Isn't the bear flag target $50K or lower? Because this is a break of an ascending channel, not a bear flag, and the difference is more than just semantics. A bear flag is a shorter-term continuation pattern. They rarely retrace more than 38.2%, and they certainly do not continue to make new highs for 3+ months. If this were a bear flag, the target would range from roughly $45K to $50K depending on how the flag is drawn and your preference for linear (45K) vs log (50K) charts. An ascending channel, on the other hand, forms when real accumulation is taking place as indicated by the countless "bottom-is-in" signals that fired on the higher timeframes, and further supported by macro indicators turning higher such as ISM PMI and the copper/gold ratio breaking out. When an ascending channel breaks out, up or down, the target is the breakout plus or minus the height of the channel. The calls for $50K, $40K, even $30K will be deafening if we approach the lows, but the technicals do not support it. The target for this ascending channel break, if met, would form a higher low near the weekly 200 SMA.




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