BTC Bitcoin: Bear Flag With A Path
Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTCUSD).
Bitcoin price is shown in a bear flag formation with the flag pole measurement in the 6K-7K range. The price inside the descending triangle is about 60% formed and may continue for a bit longer. The price has a chance to move within the Fibonacci Retracement levels as shown in the chart.
A path has been created with a potential resistance line (in formation).
It doesn't look that good for Bitcoin at this moment on the macro level. Be careful.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
Bitcoin price is shown in a bear flag formation with the flag pole measurement in the 6K-7K range. The price inside the descending triangle is about 60% formed and may continue for a bit longer. The price has a chance to move within the Fibonacci Retracement levels as shown in the chart.
A path has been created with a potential resistance line (in formation).
It doesn't look that good for Bitcoin at this moment on the macro level. Be careful.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
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