BTC: BEAR FLAG! REKTEMBER(Sept.) IS COMING!!
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Welcome to this BTC quick update.
BTC is moving in a rangebound from 21k-22k from the last few days. It is forming a bearish flag in 4hr time frame and currently trading inside the flag. When it breaks down the flag then we expect price to touch 18k-19k level.
REASONS I'M ON BEARISH SIDE:-
1) Price structure forming a bearish flag pattern.
2) RSI is forming a rising wedge like structure which is generally a bearish pattern.
3) Volume is not sufficient and continuously going down.
4) After a week, September month is starting which is generally a bearish month and also known as "REKTEMBER"
Invalidation of pattern:- If any 4hr candle close above 22k
What do you think guys?
Do you also think we might see another leg down from here or do you think it is continuously pumping from here?
Share your views in the comment section.
If you agree with my points then do hit the like button.
Thank You!
Welcome to this BTC quick update.
BTC is moving in a rangebound from 21k-22k from the last few days. It is forming a bearish flag in 4hr time frame and currently trading inside the flag. When it breaks down the flag then we expect price to touch 18k-19k level.
REASONS I'M ON BEARISH SIDE:-
1) Price structure forming a bearish flag pattern.
2) RSI is forming a rising wedge like structure which is generally a bearish pattern.
3) Volume is not sufficient and continuously going down.
4) After a week, September month is starting which is generally a bearish month and also known as "REKTEMBER"
Invalidation of pattern:- If any 4hr candle close above 22k
What do you think guys?
Do you also think we might see another leg down from here or do you think it is continuously pumping from here?
Share your views in the comment section.
If you agree with my points then do hit the like button.
Thank You!
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