BTC is currently printing a bear flag on its chart.
We are currently consolidating within the flag structure. Given the preceding bearish trend, the probability favors a downside breakout, with potential targets in the $90,000 - $88,000 zone.
It is crucial to closely monitor volume during the potential breakout to confirm the validity of the signal. Furthermore, confluence with other technical indicators and key support levels in the target zone could offer greater conviction to the trade.
We are currently consolidating within the flag structure. Given the preceding bearish trend, the probability favors a downside breakout, with potential targets in the $90,000 - $88,000 zone.
It is crucial to closely monitor volume during the potential breakout to confirm the validity of the signal. Furthermore, confluence with other technical indicators and key support levels in the target zone could offer greater conviction to the trade.
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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.
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.