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Alert: Bear flag forming on the daily chart for Bitcoin on August 24


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VIDEO: Explosive! Bear Flag Chart pattern | Bearish continuation pattern | Chart patterns | Bearish flag
Fortune Talks

Thursday August 24, 2023 08:35

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(Kitco News) - Thursday, August 24--September Bitcoin futures prices are higher in early U.S. trading Thursday, after hitting a 4.5-month low on Wednesday. Bulls are working to recover from recent selling pressure but have more work to do in the near term to suggest a market bottom is in place. The recovery in prices so far has just produced a bear flag pattern on the daily bar chart. A price downtrend line is also in place on the daily chart and the bears still have the near-term technical advantage.



Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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