The current market reversal appears to be painting the beginning of a bear flag . It looks like this pattern will hold until at least the 27th with consolidation centered around 6k. Breakout direction is most likely to be down, and a break upwards would still not outweigh the significant bearish signals. A bullish move would need to pass $6,830. A bottom target is hard to determine as a downward breakout would leave BTC without much support above the long term trend line at $2,700.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.