Hi all! Why do I think the crypto bear market is not over yet? Keep reading...
This is serial of 5 BTCUSD ideas (with 5 bearish agruments) released one after another one at a time after reaching following criterions: This idea needs to get at least 30 likes (just click the 🚀 button) and 20 comments (mine included, just say "thanks" whatever) in order to "unlock" the next idea which I will publish (also here in comments) once the criteria are met and as soon as I can.
1st post of the series met the criteria, so now let's move on!
REASON #2: Bear Flag So Bitcoin reached the all-time high @ 69K, dumped hard to 33K (flag pole), bounced as high as 48K and then dropped back down to 37K (consolidation). All that price action formed Bear Flag pattern (which is continuation formation) with target @ 12200. Clear break down out of the flag triggered the pattern. Now we are far away from the breakout point but on the other hand we are still quite far away from the pattern target. I mean from 20K to 10K it's still -50%, which is the same as from 40K to 20K. Anyway ... what do you think? Boost and comment in order to "unlock" the next (3/5) BTC bearish reason! Cheers!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
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Just realized I copied (from 1st post) the figures of the potential drop (from 20K to 10K etc) in the description and didn't change them. It would rather be from 19K to 12K which is also smaller % decline but it doesn't matter actually, I'm sure you got the point!
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1st post of the series: REASON #1: Head and Shoulders
While there is still room for more downside, I wouldn't be shorting BTC, not at these levels. Awesome time to be accumulating, even if we see another 50% plunge.
bizmark
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@bL1TZZ, got your point, thanks for the chart. I'm just waiting for BTC to show some signs of (bull) life before I start accumulating.
bizmark
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@bL1TZZ, BTW I'm shorting BTC with clear exit point (SL):
but I'm shorting ADA harder, it's just really weak: