FLAG = Impulse + Correction

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After a significant drop in Bitcoin price , the price is in a correction wave.

What makes the chart interesting today is that:

. Bitcoin is likely to challenge the 18042 ~ 18227 resistance zone .
. A break above 18227 could push the pair to the 19487 area .
. A resistance rejection , however could lead to another retest of the lower supports.

Will the Bitcoin see a rejection from the resistance zone or an upside breakout?

No one knows it! We have to wait and see!

This article was originally published by Tradingview.com. Read the original article here.