BTC looks primed for a move down to $32K over the next 2-3 days. That price level may provide a temporary relief bounce, but even then price action could just continue down. This would be a last chance price level before continuing down to my $18K-$20k near term bottom.
Watch for a break of this bear flag on the lower time frames, which is just a smaller flag inside of a much larger bear flag that has already confirmed a break down.
Remember this is only my formed analysis outlook. This is not an endorsement or recommendation to buy or sell.
Watch for a break of this bear flag on the lower time frames, which is just a smaller flag inside of a much larger bear flag that has already confirmed a break down.
Remember this is only my formed analysis outlook. This is not an endorsement or recommendation to buy or sell.
Note
Interestingly enough, the price target for this bear flag matches right up with the 200 EMA on the 5 Day time frame.
Note
If BTC manages to close below the 100 Week MA, look out below. Price will then be pulled like a magnet down to the 200 Week MA.
Note
I still expect price to wick below the Weekly 200SMA, which is currently sitting at $21.73KNote
The flag has broken down and retested as resistance. Selling should accelerate now.
Note
BTC closed below the 100 Week MA and rejected by the 5D 200MA. Lights out, MicroStrategy about to get margin called. Luna about to get exposed as a ponzi scheme. Big boys smell blood...
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Disclaimer
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.