Quick Markets Update
Just a quick update before the beginning of the 4th of July weekend.
After breaking out from its blue bull flag yesterday, today was a backtest day for BTCUSD. The way the price action bounced off the top rail today tells us the trendline is properly placed. We could see a ping-pong move between the neckline and the top rail of the blue flag before the breakout of the H&S consolidation pattern occurs.
This 15 minute micro chart shows the HUI closed today right on the top rail of the blue flag as shown by the red numbers.