A Bear Flag has formed on Bitcoin. We see a clear breakdown of structure. Further downward pressure should follow.
Note
Targets 1 & 2 have been hit. Here is an updated view. I will likely post a new chart once finished but here it is for anyone following this one. That Golden line is the "Golden Multiple" of the "Genesis Fib Series" which is a Fib series of its lifetime. This is a very important level. Since bulls have failed to hold this level, I expect a bearish retest, and further sell pressure is likely to follow. A break above this level will likely lead to a bullish scenario.
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.
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.