https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmeYwp2kQD7MeGaCkes44tfzpPSQHuqKeGVfRCrvLDnXyG/image.png

Hello, gentlemen..

***"Bitfinex"***, timeframe of 6 hours.
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https://imgp.golos.io/0x0/https://i.paste.pics/b2e3daeb4e578a3b58765d8b76b4eb8b.png

1 and 2 are the main support and resistance lines. Line 3 - local support line.

Many people interpret the yellow figure as a ***"flag"***. On this basis, these traders assume a subsequent increase in the BTC price. (The flag rule on a small timeframe is the continuation of the previous movement)

I am inclined that this pattern is an ***"ascending tapering cone"***. In this case, we expect the price to fall. Due to the fact that this cone is not strongly lifted up, the fall will not be strong. Most likely, the price at the exit of this pattern will begin to decline smoothly, continuing the lateral movement within the boundaries of lines 2 and 3.

***Good luck!***

***The @upvoteinvest team***

***A formal disclaimer
Some of the posts might contain our opinion on trading strategies based on our technical and fundamental knowledge. However, please, invest at your own risk. We can’t be held responsible for any losses.***