Tez8

BTC Short : Potential Bear Flag - Target 0.618 $35k

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
SUMMARY: Short, high selling at the 40k and Amazon confirms its has no plans to accept BTC payments reversal in play

-- Technical --

ABC corrective wave in progress, retest likely of the 0.618 region.


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*Not financial advice and is for educational purposes only. Always DYOR.

SO: What do you think, i? Let me know below.

Comments

Bang on
+1 Reply
Tez8 isaacsmile
@isaacsmile, Thanks, we will soon see if it is rejected from the 0.236 resistance level, could be a double top then down. Otherwise it will get invalidated.
Reply
patforbes MahdiMR10
@MahdiMR10, Off course. Sort Fibs, less than a month, are always inaccurate.
+1 Reply
@patforbes , I think it will still break down in the SR. It looks like it got the bounce from the 0.5. Support

It has also painted a couple of smaller bull flags back to 40k

long term I am bullish.
Reply