Bitcoin re-test of lower regions - 64k zone and lower
Updated
Bearish indicators showing a pull back likely... Market will likely need to cool down before it moves up another leg. I believe the chart pattern, even appearing as a bull flag, will break down. Could also be a descending triangle.
Note
I believe the next big move is about to happen any time now. Possibly latest by week end. (See my horizontal line 150bars). Bears still in control and I'm waiting patiently for the drop into my marked accumulation zone. The run up above the triangle to 72k, which I said previously I don't see as a bull flag, was merely a liquidity grab and re-test of resistence to trap bulls.Note
Target below 64k HitI'd like to see one more leg down to at least test the 0.618 Fib level or lower (marked in red dotted lines) before possible up trend continuation. Looks like a bullish falling wedge may be in play here.
Note
The reason I am still more bearish is because I do not see enough strength in the daily candles yet. On June 24th a bearish engulfing daily candle was printed. My opinion is another leg down. Current price 64319.Note
* That bearish engulfing candle that I mentioned was on the 4h chart and on June 22.
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