The price action of 4h time frame Bitcoin chart has formed a bear flag which is bearish continuation pattern.
I expect the price to drop at least $34000 per Bitcoin.
Next bearish target is at $33400, ultimately followed by key support at $30000.
As you may know I am bull myself, only a spot trader so I look just for moves to the upside to take trades, but unfortunately the current situation doesn't look too good as the price in higher picture is forming a descending triangle/bear flag.
Let's see how this goes!
I expect the price to drop at least $34000 per Bitcoin.
Next bearish target is at $33400, ultimately followed by key support at $30000.
As you may know I am bull myself, only a spot trader so I look just for moves to the upside to take trades, but unfortunately the current situation doesn't look too good as the price in higher picture is forming a descending triangle/bear flag.
Let's see how this goes!
Comment:
The bear flag has successfully broke to the downside as $34000 has been tested.
