HOME> market conditions> [BTC market analysis] $ 9920 is solid! Will it fall further due to a crack in the support line? Explaining the rising and falling flags [2020/9 / 7-9 / 13]
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[BTC market analysis] $ 9920 is solid! Will it fall further due to a crack in the support line? Explaining the rising and falling flags [2020/9 / 7-9 / 13]

Today's BTC price forecast is released! Coingirls official traders open their strategies to keep up with the upcoming virtual currency trends!

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Last week's Bitcoin quote review

We will analyze and review the market price of BTC/USD from June 9st to June 7th.

Last week's highlights

Looking back over the past week, the points I would like to pay attention to areThere was no big price movement in the adjusted marketThat's the point.

The above image is an hourly chart of BTC USD.

I drew the price movement from 9/7 to 9/13 with an arrow, but it was almost flat and there was no movement.

There was a big drop last week, so I think it's an adjustment.

For a detailed explanation of the short entry for $12000, please refer to the article on September 9nd.

Click here for BTC price analysis on Wednesday, August 9

The above image is one hour.

You can draw a line that is supported three times around $ 9920.

It's around $ 10000, so I could have imagined that the bottom price would harden.

It has been around $ 10000 for the whole week, so it may move this week.

Either way, it was an adjusted market last week, so it can be said that it was not particularly worth trading.

Rising flag / falling flag

Today"Rising flag / falling flag"I would like to introduce.

The flag is a technical that appears in the adjusted market and is a technical that is worth knowing.

It's not difficult, so make sure you understand it in this article.

By the way, last week's article"Sanson/Reverse Sanson Market Psychology"I will explain it under the theme, so please refer to it as well.

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https://coin-girls.com/2020/09/06/btc-chart-20200906
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What is a flag?

First of all, what is a flag? I will talk about the flag, but what is the flag?"flag"Means

The flag isChart pattern in which parallel channels appear in the middle of the trend.

The rising flag occurs during the uptrendso,The down flag occurs during the downtrendPlease understand.

And the appearance of the flag meansSign of trend continuationCan be judged.

Therefore, flags are common in adjusted markets.

The above image is one hour.

It has been on a big downtrend since last week, but in the downtrend you can squeeze up and draw parallel channels.

This is a downtrend as it forms a flag during the downtrend.

Then, I will explain the entry point when this flag appears.

Flag entry point

I wrote earlier that "the flag is a sign that the trend continues", but you should enterAfter exiting the flag (parallel channel).

For example, when the rising flag appears,Buy a bargain after breaking through a parallel channelAim.

There is a range (adjustment market) in the channel, so there is no need to force a position.

The important thing isFollow in the direction of movementIt is that.

By doing so, you can reduce the number of losses and realize a trade with a large loss and profit.

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Outlook this week

I will explain the market outlook for this week.

First, please see the 1-hour bar below.

You can draw a line that is supported three times around $ 9920.

It's close to $ 10000, so it's still solid.

If it breaks below this line, it will be flooded with sell orders and we can expect further declines.

The above image is one hour.

In the long term, after forming the head and shoulders, it is showing a movement to return to the neckline.

I would like to expect a return to around $ 11120.

We are also considering a scenario in which $ 11120 will convert to support and fall again.

The points I want to pay attention to this week areWhether to break down the $ 9920 support line.

We will continue to expand our selling position from $ 12000 and look for points to sell again.

This is the end of this week's market price analysis and review.

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[Women's association member who wrote this article]

Coingirls Certified Trader
Coingirls official female trader with 6 years of trader experience. I like watching the three major currency charts of BTC, XRP and ETH.
Read other articles by Coingirls Certified Traders

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