15 Minute Bear Flag for Bitcoin

Looking at the 15 minute Coinbase chart there appears to be a bear flag forming. If this breaks as expected the near term target would be approximately 7,640

Of course if the bots do some more of their craziness all bets are off. I am currently in cash after making a small long trade off 7,750 and getting stopped out at 7,890 on the way back down. I'm in the "wait and see" mode at the moment.

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As you can see the flag broke south and then abruptly reversed north. This is why I am currently sitting on the sidelines. If you look at the previous 3 spikes like this there is a good chance it will turn south again with it is least expected.

Nope, sitting on my hands until the real bottom is found or a real breakout takes hold. All this chop is for the birds...

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Well there you go. Flag break down. Head Fake UP followed by down again. People's stops are getting raped on a regular basis I'm sure.

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Wow! We hit that target so hard we busted right through it.